- Jeito Capital’s second round of funding will support NMD Pharma in becoming a leading, global, clinical-stage company, with a strong pipeline of breakthrough therapies for patients suffering from severe neuromuscular disorders.
- This funding round will also contribute to NMD Pharma’s expansion of its clinical and commercial operations in Denmark and the US.
Paris, France, November 15th 2023 – Jeito Capital (“Jeito”), a global leading investment firm dedicated to healthcare and biopharma, is pleased to announce it has led a €75 million Series B financing in NMD Pharma (the “Company”), a clinical-stage biotech dedicated to developing novel and improved treatments for patients living with neuromuscular diseases.
The financing was led by Jeito Capital together with existing investors; Novo Holdings, Lundbeckfonden BioCapital, INKEF Capital, and the Roche Venture Fund. Proceeds will be used to complete three Phase 2, clinical Proof of Concept studies with NMD670, the company’s lead ClC-1 inhibitor. This has the potential to restore muscle function in a range of rare neuromuscular diseases including positive myasthenia gravis, spinal muscular atrophy, and Charcot Marie Tooth. NMD Pharma will continue to grow its pipeline of ClC-1 inhibitor molecules in order to expand into additional groups of addressable neuromuscular diseases. The new funds will also go towards the expansion of NMD Pharma’s clinical and commercial operations in Denmark and the US.
Jeito became a key investor in NMD Pharma as part of a €35 million initial financing in February 2022, and this second round of investment illustrates the significant progress made by the Company. In October last year, NMD Pharma reported positive results from a Phase I/IIa clinical trial of a drug designed for the treatment of myasthenia gravis (MG), a rare and chronic autoimmune disease.
Dr. Rafaèle Tordjman, MD, PhD, Founder and CEO of Jeito Capital, said: “NMD Pharma stands out amongst the high-quality players in the European Biotech ecosystem, and exemplifies the type of business we wish to help grow into a leading, global, late-stage clinical company. With this new funding round, Jeito Capital is committing to support NMD Pharma in its mission to bring transformational drugs to patients suffering from severe neuromuscular disorders.”
Sabine Dandiguian, Managing Partner at Jeito Capital, added: “Since we originally looked at NMD Pharma we have been impressed with the Company’s unique expertise in a very specialized area. The Company has matured and grown significantly since our initial investment last year and the recent positive clinical data has provided valuable validation. As such, we are very pleased to lead this new round and look forward to supporting Thomas Holm Pedersen, the CEO and his talented team as they progress the NMD Pharma story to the next chapter with a joint ambition: provide patients with life transforming benefits.”
Thomas Holm Pedersen, Chief Executive Officer of NMD Pharma, said: “This funding will help NMD Pharma evolve significantly and enable us to become a late-stage clinical company with a pipeline of novel therapeutics in development for patients with neuromuscular diseases. I would like to extend my thanks to my team for their work making NMD Pharma the company it is today and for the support and trust shown by our investors, and in particular to Jeito Capital, for leading this round.”
About Jeito Capital
Jeito Capital is a global leading Private Equity company with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. Jeito empowers and supports managers through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients’ access globally, especially in Europe and the United States. Jeito Capital has €534 million under management and a rapidly growing portfolio of investments. Jeito Capital is based in Paris with a presence in Europe and the United States.
About NMD Pharma
NMD Pharma A/S is a clinical-stage biotech company developing a first-in-class platform of small molecule therapies selectively targeting the skeletal muscle chloride ion channel (ClC-1) for the treatment of severe neuromuscular disorders. The Company was incorporated as a spin-off from Aarhus University, Denmark in 2015 and was founded on more than 15 years of muscle physiology research with a focus on regulation of skeletal muscle excitability under physical activity. NMD Pharma has built a world-leading muscle electrophysiology platform leveraging the in-depth know-how of muscle physiology and muscular disorders, small molecule modulators, enabling technologies and tools as well as in vivo pharmacology models for discovering and developing proprietary modulators of neuromuscular function. NMD Pharma received initial seed financing in 2016 and has since raised ~€155 million from investors including Novo Holdings, Lundbeckfonden BioCapital, INKEF Capital, Roche Venture Fund, and Jeito Capital.
Find out more information online at http://www.nmdpharma.com/.
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