Date: 2013-09-04
Type of information: Series B financing round
Company: Mind-NRG (Switzerland)
Investors: Index Ventures (Switzerland)
LRM (Belgium)
Amount: € 6 million
Funding type: series B financing round
Planned used: Mind-NRG, created in 2010, is investigating the use of neuregulins in treating a variety of neurological and psychiatric disorders. The compounds are neurotrophic factors that have disease modifying potential and naturally cross the blood-brain barrier. In particular, Mind-NRG is developing NRG-101 to treat the early-stages of neurodegenerative diseases such as Parkinson’s disease and Alzheimer’s disease, as well as schizophrenia. The Company plans to use the funding to elucidate the mechanism of NRG-101’s neuroprotective effect in Parkinson’s disease, with the aim of taking forward the compound to proof-of-concept studies in patients. To date, NRG-101 has been shown to target multiple mechanisms of neurodegenerative diseases, setting it apart from other neuroprotective compounds that inhibit single disease-related targets or pathways.
Others: * On September 4, 2013, Mind-NRG, a Swiss-based company focusing on developing neuregulins to treat neurodegenerative diseases, has announced the close of its Series B financing raising € 6 million. The financing was led by new investor LRM, a Belgian based investor specialising in Life Sciences, along with existing investor and leading venture capital firm Index Ventures. Following the investment, Debora Dumont, Head of Health & Care at LRM will join the board of directors at Mind-NRG.
Therapeutic area: CNS diseases - Neurodegenerative diseases
