In This Article:
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Proceeds will be used to enable key late-stage clinical trial readouts for assets across several underserved neurological diseases with high unmet medical need.
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EQT Life Sciences has led the extension, and joins a consortium of prominent global biotechnology investors.
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The investment builds on EQT Life Sciences' previous successful partnership with neurology-focused repeat entrepreneur and Noema Pharma CEO Ilise Lombardo, MD
STOCKHOLM, Dec. 11, 2024 /PRNewswire/ -- EQT Life Sciences is pleased to announce that the LSP 7 fund has invested in Noema Pharma ("the Company"). The clinical-stage biotech company headquartered in Basel, Switzerland is developing a pipeline of first-in-disease therapeutics that address central nervous system (CNS) disorders. The Series B extension brings the total capital raised in the round to CHF 130 million, including prior investments from Forbion, Jeito Capital, Sofinnova Partners, Gilde Healthcare, Polaris Partners, Invus and UPMC Enterprises.
CNS disorders are a significant area of unmet medical need, affecting hundreds of millions of people worldwide who often face inadequate treatment options with limited effectiveness and significant side effects. Many of the conditions targeted by Noema Pharma have historically been difficult to treat due to their complex nature and the lack of effective therapies. By leveraging its diverse portfolio of neurological assets and innovative clinical pipeline, Noema Pharma is strongly positioned to address these debilitating disorders and provide much-needed hope and transformative solutions to patients living with these life-altering challenges. The Company's portfolio includes four active Phase 2 trials, with key readouts from all studies anticipated in 2025.
Proceeds from the financing will drive the continued development of Noema Pharma's clinical-stage assets, including its lead candidate basimglurant (NOE-101), a mGluR5 inhibitor currently in Phase 2 trials for severe pain in trigeminal neuralgia (TN) and seizures in tuberous sclerosis complex (TSC). Additionally, the Company is advancing gemlapodect (NOE-105), a PDE10a inhibitor in Phase 2 for Tourette syndrome and childhood onset fluency disorder (COFD or stuttering), as well as NOE-115, a broad-spectrum monoamine modulator in a Phase 2 trial for vasomotor symptoms and additional symptoms of menopause.
Ilise Lombardo, MD, CEO of Noema Pharma, stated: "We are thrilled to welcome EQT Life Sciences as a lead investor and to have Felice join our Board. Their support and expertise will be invaluable as we progress our clinical programs and strive to make a meaningful impact on patients' lives."