NRG Therapeutics raises £50m in Series B funding to advance mitochondrial drugs into clinical trials
The financing round was led by SV Health Investors and will fund initial human trials for the company lead candidate in ALS and Parkinson's.
Stevenage-based biotechnology company developing small molecule therapeutics to target mitochondrial dysfunction in neurodegenerative diseases.
Stevenage-based NRG Therapeutics has secured £50m in Series B funding to advance its lead candidate, NRG5051, into clinical trials. The financing was led by SV Health Investors through its Dementia Discovery Fund, alongside contributions from the British Business Bank, M Ventures, Novartis Venture Fund, Criteria Bio Ventures, Omega Funds, and Brandon Capital.
The capital will support the company as it prepares its oral small molecule for first-in-human studies targeting amyotrophic lateral sclerosis and Parkinson's disease. NRG5051 aims to block the mitochondrial permeability transition pore to prevent neuron death and energy failure in the brain.
The enterprise intends to generate clinical proof of concept data and expand its broader pipeline of neurodegenerative treatments following the successful completion of IND-enabling studies.
From the founder
"Developing new drugs to treat neurological diseases is very challenging, but is receiving increased interest given the high unmet medical need and growing prevalence in ageing populations."
Neil Miller
CEO at NRG Therapeutics
Investor perspective
"We seek to back the best of UK life sciences, helping to turn breakthrough research into world-leading, fully commercial companies. Like many of our life sciences investments, our investment in NRG Therapeutics is advantageous because it has the potential to help address one of the world’s largest healthcare challenges. We look forward to supporting NRG Therapeutics as they continue to take their valuable research forward through trials."
Leandros Kalisperas
Chief Investment Officer, British Business Bank
Use of funds
- 01Fund research and development
Investors
Dementia Discovery Fund
SV Health Investors
Leandros Kalisperas
British Business Bank
M Ventures
Novartis
Criteria Bio Ventures
Omega
Brandon Capital
Categories
About the company
NRG Therapeutics
NRG Therapeutics develops mitochondrial-targeted treatments for neurodegenerative conditions.