Nuevocor closes US$24M Series A Financing to Advance Novel Gene Therapies for Cardiomyopathies
PR90106
SINGAPORE, June18,2021/PRNewswire=KYODO JBN/--
Nuevocor, a preclinical-stage biotech company specializing in gene therapy for
cardiomyopathies, has announced the completion of an oversubscribed $24 million
Series A financing round. The round was co-led by EVX Ventures and Boehringer
Ingelheim Venture Fund (BIVF), with EDBI, Xora Innovation, SEEDS Capital and
other investors joining the syndicate.
The funds will be used to accelerate the preclinical development of its lead
programme, an adeno-associated virus (AAV) – based gene therapy for patients
suffering from dilated cardiomyopathy (DCM) due to mutations in the lamin A/C
(LMNA) gene. The company also plans to address other untreatable
cardiomyopathies using their novel target discovery platform.
Nuevocor's founding CEO, Dr Yann Chong Tan stated: "We are delighted to have
this strong group of investors join us in developing gene therapy-based
treatments that have the potential to restore cardiac function in diseased
hearts. The current standard of care for dilated cardiomyopathy only serves to
delay disease progression, and the only cure is to have a heart transplant. At
Nuevocor, we hope to give patients a new lease of life through our technology."
XQ Lin, Chairman of EVX Ventures, commented, "We are thrilled to co-lead
Nuevocor's Series A round alongside other top tier investors. Nuevocor is the
latest company to emerge from our venture creation ecosystem. We look forward
to supporting Nuevocor's path towards the clinic and bringing new medicines to
patients in need."
"Nuevocor is trying to apply a very innovative and challenging approach using
gene therapy for the treatment of genetically-driven, dilated cardiomyopathies.
We are excited to see that the company is exploiting the potential of genetic
suppressors to change the course of these diseases and hopefully to
significantly extend the life span and improve the life quality of DCM
patients," said Dr. Weiyi Zhang, Managing Director of BIVF Asia.
Headquartered in Singapore, Nuevocor is a privately held preclinical-stage
biopharmaceutical company focused on developing AAV gene therapy for the
treatment of genetically defined cardiac diseases with high unmet need.
Nuevocor's lead program, lamin A/C dilated cardiomyopathy (LMNA DCM) gene
therapy is based on decades of research into fundamental mechanisms underlying
LMNA-associated disease enabled by development of novel technologies on the
part of scientific co-founders Colin Stewart and Brian Burke of the Agency for
Science, Technology and Research (A*STAR). Together with AAV gene therapy and
cardiac disease modelling expertise of scientific co-founders Mark Kay from
Stanford University and Jianming Jiang from the National University of
Singapore respectively, Nuevocor is well-positioned to treat LMNA and other
genetic cardiomyopathies, amongst other cardiac diseases.
"Singapore has made long-term R&D investments to drive health outcomes and
economic growth, and to build the local biotech ecosystem. A*STAR is proud to
have supported our spin-off Nuevocor in translating excellent science from
bench to bedside so they can develop more effective gene therapies for
hard-to-treat cardiac diseases, for better patient outcomes," said Professor Ng
Huck Hui, Assistant Chief Executive, Biomedical Research Council, A*STAR.
About LMNA dilated cardiomyopathy
LMNA mutations are the #2 cause of familial DCM, affecting approximately 60,000
people in the US and EU alone. The mutation confers amongst the worst prognosis
of all DCM, with increased risk of arrhythmogenic DCM and sudden cardiac death.
Being an autosomal dominant disease characterized by gain-of-function of the
mutant Lmna protein, conventional gene replacement therapies would be
ineffective for LMNA DCM. Nuevocor's innovative approach to gene therapy
circumvents this roadblock.
About EVX Ventures
EVX Ventures is a global VC that builds, incubates, and invests in biotech
companies. With a focus on disruptive therapeutics platform technologies and
novel therapeutic modalities, they invest in global technologies to redefine
the therapeutics of tomorrow. Learn more at www.evx.ventures
About Boehringer Ingelheim Venture Fund
Created in 2010, the Boehringer Ingelheim Venture Fund GmbH (BIVF) invests in
groundbreaking therapeutics-focused biotechnology companies to drive innovation
in biomedical research. BIVF is searching for significant enhancements in
patient care through pioneering science and its clinical translation by
building long-term relationships with scientists and entrepreneurs. BIVF's
focus is to target unprecedented therapeutic concepts addressing high medical
needs in immuno-oncology, regenerative medicine, infectious diseases and
digital health. For more information, visit
www.boehringer-ingelheim-venture.com.
Contact:
info@nuevocor.com
SOURCE: Nuevocor
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