Angelini Ventures Co-Leads $45M Series B for Nuevocor's Genetic Dilated Cardiomyopathy Treatment

Angelini Ventures, the corporate venture arm of Angelini Industries, has made a notable investment in the biotechnology sector, marking its first foray into the cardiovascular and gene therapy space, as well as its initial venture in Asia. The firm, which is dedicated to fostering innovation in BioTech and Digital Health, announced its co-leadership in a $45 million Series B financing round for Nuevocor, a biotechnology company at the Investigational New Drug (IND) stage. Nuevocor is focused on developing transformative therapies for genetic cardiomyopathy, a condition characterized by mechanical heart defects that remain largely untreated.

Established in 2021, Nuevocor is at the forefront of a new wave of genetic medicine that concentrates on pathways associated with cardiac disorders. Utilizing its proprietary PrOSIA mechanobiology platform, the company aims to address the underlying biomechanical causes of genetic cardiomyopathies. The recently secured funds will support the clinical proof-of-concept for its lead treatment candidate, NVC-001, specifically targeting LMNA DCM, a rare heart condition linked to mutations in the LMNA gene.

The financing round, co-led by Angelini Ventures, also saw participation from Kurma Partners and Highlight Capital, alongside existing investors such as Boehringer Ingelheim Venture Fund, ClavystBio, EDBI, SEEDS Capital, and Xora Innovation. Dr. Elia Stupka, Managing Director at Angelini Ventures, will take on a role as a Board member of Nuevocor, with Dr. Lola Buono, Senior Associate at Angelini Ventures, joining as a Board Observer.

This investment underscores Angelini Ventures' commitment to supporting biotech companies with the potential to become leaders in biopharma. The collaboration with Nuevocor not only broadens Angelini's global reach to Asia but also aligns with its mission to support transformative scientific endeavors that have the potential to significantly improve patient outcomes worldwide. Dr. Elia Stupka emphasized the strategic importance of this investment, highlighting Nuevocor’s innovative approach to treating genetic dilated cardiomyopathy by focusing on mechanobiological pathways instead of merely replacing genes. This approach, which involves a one-time therapy, offers the potential to greatly enhance patient outcomes and reduce healthcare burdens.

Dr. Yann Chong Tan, CEO and Co-Founder of Nuevocor, expressed enthusiasm about the financing milestone and the global partnerships formed, which will enable the company to maintain its momentum and advance NVC-001 into clinical trials. He acknowledged the significant unmet needs of patients with cardiomyopathies and the potential of their mechanobiology platform to develop groundbreaking treatments.

Angelini Ventures, which focuses on Series A and B investments, aims to accelerate disruptive innovations in BioTech and Digital Health. The firm plans to invest €300 million across a global portfolio in Europe and North America, leveraging its global team and strategic partnerships to help entrepreneurs scale their businesses into industry-leading entities.

To date, Angelini Ventures has allocated approximately €100 million to 18 companies across diverse therapeutic areas and modalities. Its BioTech portfolio includes companies like Neumirna, Cour Pharmaceuticals, Nouscom, Pretzel Therapeutics, and Freya Biosciences, while its Digital Health portfolio boasts names like Vantis Health, Avation, Cadence Neuroscience, Nobi, Noctrix, and Serenis.

Angelini Industries, the parent company, is a multinational group founded in 1919 and is recognized for its excellence in health, industrial technology, and consumer goods sectors. With around 5,800 employees and operations in 21 countries, the group generates over two billion euros in revenue annually.

Nuevocor, the innovative biotechnology company, is advancing new functional cures for cardiomyopathies, aiming for a broader impact by targeting shared pathways of the disease rather than individual genetic mutations. Through its PrOSIA mechanobiology platform, Nuevocor seeks to revolutionize treatment options for patients with these complex heart conditions.