Nuevocor, a Singapore-headquartered IND-stage biotechnology company developing cures for cardiomyopathies driven by aberrant mechanobiology, has announced the successful completion of $45 million Series B financing.
The round was co-led by Kurma Partners and Angelini Ventures, with significant participation from existing investors EDBI, ClavystBio and Boehringer Ingelheim Venture Fund, alongside Highlight Capital and SEEDS Capital, Nuevocor said in a statement on Tuesday.
Nuevocor also welcomes Amanda Gett-Chaperot, PhD (Kurma Partners) and Elia Stupka, PhD (Angelini Ventures) to its Board of Directors.
The new investment will support a first-in-human, open-label, multicenter, ascending single-dose Phase 1/2 clinical trial of NVC-001 in patients with LMNA DCM, with clinical trial sites across the U.S. and Europe.
Additionally, the company will establish an office in Paris, France, to support clinical development and bring Singapore innovation to patients globally.
LMNA DCM is a genetic heart condition caused by mutations in the LMNA gene, leading to the weakening and enlargement of the heart muscle, ultimately resulting in a rapid progression toward end-stage heart failure.
LMNA DCM is estimated to affect more than 100,000 patients in the U.S. and Europe. NVC-001 and other pipeline assets are derived from Nuevocor’s proprietary PrOSIATM mechanobiology platform, which pinpoints the functional root-cause of many cardiomyopathies.
“We are delighted to secure this significant financing milestone to build a global company with such an experienced syndicate of international life science investors,
“The continued strong support from insiders and the addition of new investors will enable Nuevocor to continue its strong momentum and advance NVC-001 into the clinic. This is an example of how Singapore is bringing transformative innovation to the rest of the world,” said Dr. Yann Chong Tan, PhD, CEO and Co-Founder of Nuevocor.
Nuevocor is an IND-stage biotechnology company developing novel therapies for genetic cardiomyopathies driven by aberrant mechanobiology, headquartered in Singapore with an office in the U.S. and expanding to Europe.
The firm’s unique approach, enabled by our proprietary PrOSIATM mechanobiology platform, surpasses the limitations of traditional gene replacement therapy – which treats individual gene mutations – to treating defects in shared disease pathways across multiple cardiomyopathies by addressing the root cause of disease.
The firm is first-in-disease by addressing genetic cardiomyopathies that are not amendable to gene replacement therapy and have no effective treatment options.
“Nuevocor is providing new hope to a significant population of cardiovascular patients who today lack treatment options by directly targeting the underlying causes of disease,
“The burden of cardiomyopathies is large, and Kurma is excited to join Nuevocor, investing from our new Biofund IV to create meaningful value through the treatment of these important diseases,” said Dr. Amanda Gett-Chaperot, Partner at Kurma Partners.
Meanwhile, Dr. Elia Stupka, Managing Director at Angelini Ventures, said the firm’s investment in Nuevocor marks a strategic expansion for Angelini Ventures – into cardiovascular disease, gene therapy, and the Singapore biotech ecosystem.
“We are excited by Nuevocor’s novel approach to treating genetic-dilated cardiomyopathy by targeting mechanobiological pathways rather than simply replacing genes,
“This one-time therapy has the potential to transform patient outcomes and ease healthcare burdens. We are proud to support their mission and join the Board, alongside Kurma, ClavystBio, EDBI, Boehringer Ingelheim Venture Fund, and other investors, as the company grows globally, including into Europe,” he added.
