PhD | Business Development Senior Manager BaseLaunch
Tel. +41 61 295 50 17stephan. emmerth@baselaunch. ch
Basel – Novartis has invested in the virtual start-up NeuroVia, which is developing a compound to treat the genetic disease adrenoleukodystrophy. NeuroVia will use the new funds to recruit patients for clinical trials.
NeuroVia has closed a Series A financing round and secured USD 14 million. Pharma giants Novartis and Sanofi are among the biggest investors. Also involved in the financing round were BioMed Ventures and Enso Ventures.
NeuroVia is developing the NV1205 compound to treat the X-chromosome-linked adrenoleukodystrophy. The genetic disease damages – often fatally – the adrenal glands, the spinal cord and the white matter of the nervous system.
Thanks to the new funds, NeuroVia can start recruiting patients to determine the efficacy of the compound. NV1205 was developed at OHSU School of Medicine in the USA, where NeuroVia launched as a spin-off.
According to an Endpoint News article, Novartis supported NeuroVia in its early stages. Giovanni Ferrara of Novartis Venture helped found the company and in 2015 invested a “considerable amount” in expanding it.