NovaGo Therapeutics Secures $10 Million Series A Financing to Advance Anti-Nogo-A Antibody Therapies for Stroke and Spinal Cord Injury

VCBeat (WeChat Official Account: vcbeat) has learned from foreign media that NovaGo Therapeutics, a biotechnology company based in Zurich, Switzerland, completed a CHF 10 million (approximately USD 10 million) Series A financing round on March 4. The proceeds will be used to develop antibody therapies for the treatment of stroke and spinal cord injury.

It is reported that this round of financing was led by the venture capital fund Pureos Bioventures and strategic partner Neurimmune AG. In addition, Dr. Dominik Escher, a partner at Pureos Bioventures, will join NovaGo’s Board of Directors.

NovaGo Therapeutics, founded in 2015 as a spin-off from the University of Zurich, was co-established by Professor Martin E. Schwab, President of NovaGo Therapeutics, and Dr. Eduardo Vianna, Chief Executive Officer. The company is dedicated to developing antibody therapies for stroke and spinal cord injury to stimulate neural repair and regeneration.

Stroke, also known as “apoplexy,” is an acute cerebrovascular disease caused by the sudden rupture or blockage of blood vessels in the brain, which prevents blood from flowing into the brain and results in brain tissue damage. Stroke is the leading cause of disability among adults in developed countries, affecting the healthy lives of 33 million patients worldwide. Despite emergency care and rehabilitation therapies, more than half of patients still suffer from severe or permanent disability. To date, no medication has been able to cure subacute or chronic stroke.

Traumatic spinal cord injury affects up to 500,000 people worldwide each year. Spinal cord injury often leads to the destruction of nerve fibers in the patient's spinal cord, resulting in loss of sensation. To date, neurorehabilitation is the only available therapy for spinal cord injury, but its efficacy remains very limited.

NovaGo Therapeutics has identified Nogo-A, an inhibitor of neurite outgrowth, as a key factor underlying the limited repair capacity and lack of regenerative ability in the central nervous system (i.e., the brain and spinal cord). Clinical trials conducted by NovaGo Therapeutics have demonstrated that blocking Nogo-A with antibodies can effectively enhance nerve fiber repair and promote the formation of new fiber connections in the injured spinal cord.

Anti-Nogo-A Therapy Product Line

After conducting clinical trials of its anti-Nogo-A therapy in animals with stroke, NovaGo Therapeutics found that disease symptoms in animals with subacute stroke were delayed by weeks or even months. NovaGo Therapeutics’ antibody therapy targeting the neurite growth inhibitor Nogo-A has pioneered a novel approach that directly promotes central nervous system regeneration and neurological recovery. Currently, NovaGo Therapeutics’ anti-Nogo-A therapy is still in the preclinical stage, and this round of financing will help accelerate its advancement into clinical trials.

Commenting on this funding round, Professor Martin E. Schwab stated, “The investment support from Neurimmune and Pureos Bioventures will enable us to further develop our antibody therapies. Meanwhile, we welcome Dr. Dominik Escher to our Board of Directors; Dr. Escher’s extensive experience in biotechnology will be beneficial to the development of NovaGo Therapeutics.”

Neurimmune, founded in 2011, is a clinical-stage biotechnology company based in Switzerland. The company primarily develops novel immunotherapies based on Artificial Immune Technology (AIM), aiming to restore the natural immune function of T cells and discover new drugs capable of curing cancer. Currently, Neurimmune’s R&D pipeline covers diseases such as amyotrophic lateral sclerosis (ALS), frontotemporal dementia, cardiomyopathy, type 2 diabetes, and progressive multifocal leukoencephalopathy.

In addition, the company has developed a proprietary technology platform, Reverse Translational Medicine (RTM), capable of analyzing immune responses to specific disease-associated proteins. Neurimmune entered into a strategic collaboration with NovaGo Therapeutics, leveraging its RTM platform to develop a human-derived antibody for NovaGo Therapeutics aimed at repairing the nervous system.

Pureos Bioventures is a new venture capital fund based in Zurich, Switzerland. Sponsored by Bellevue Asset Management, the fund specializes in investing in private companies engaged in the research and development of innovative drugs. NovaGo Therapeutics was the firm’s first investment. Pureos Bioventures plans to invest in 15 to 20 private companies focused on the R&D of innovative pharmaceuticals.

(Editor: Wang Chan)