Kromann Reumert proud to advice NMD Pharma in connection with its Series B investment raising EUR 75 million
NMD Pharma A/S, a clinical-stage biotech dedicated to developing and improving treatments for patients living with neuromuscular diseases, has raised EUR 75 million (~USD 80 million) in a new Series B investment. The investment was led by current investor Jeito Capital and includes investments from other current NMD Pharma investors: Novo Holdings, Lundbeckfonden, BioCapital, Inkef Capital and the Roche Venture Fund. Since 2015, NMD Pharma has now raised around EUR 135 (~USD 144) million in total investments.
NMD Pharma is based in Aarhus, Denmark, and is developing first-in-class small molecule inhibitors of the skeletal muscle specific chloride ion channel (CIC-1) to enhance neuromuscular transmission with the potential to restore muscle function in a range of rare neuromuscular diseases. Proceeds from the Series B investment will be used to complete three Phase 2 studies with NMD Pharma's lead CIC-1 inhibitor, NMD670. The studies will evaluate the novel mechanism of CIC-1 inhibition specifically in AChR and MuSK antibody positive myasthenia gravis, spinal muscular atrophy, and Charcot-Marie-Tooth disease, respectively. In addition, NMD Pharma will continue to expand its pipeline of CIC-1 inhibitor molecules and pursue undisclosed targets for the treatment of neuromuscular diseases. The funds from the Series B investment will also be used to expand NMD Pharma's clinical and commercial operations in Denmark and in the US.
Similar to previous investment rounds, Kromann Reumert assisted NMD Pharma in connection with the Series B Financing, including preparation and negotiation of the transaction documents and the regulatory aspects of the investment.
Press release from NMD Pharma in English
Press release in the Danish Newspaper Børsen.dk
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