Nuevocor Secures $45M Series B for Cardiomyopathy Therapy Development

Nuevocor, a biotechnology firm based in Singapore, has successfully concluded a Series B financing round, securing $45 million. This funding was co-led by Kurma Partners and Angelini Ventures, with substantial contributions from existing investors such as EDBI, ClavystBio, and the Boehringer Ingelheim Venture Fund. Additional investors Highlight Capital and SEEDS Capital also participated. This new capital will be funneled into advancing the clinical development of NVC-001, a pioneering gene therapy candidate designed to treat LMNA-related dilated cardiomyopathy (LMNA DCM).

LMNA DCM is a severe genetic condition stemming from mutations in the LMNA gene, which results in the progressive weakening and enlargement of the heart muscle. This disorder can rapidly lead to end-stage heart failure and is estimated to affect over 100,000 individuals across the United States and Europe. Currently, there are limited treatment options available for patients suffering from this condition.

Nuevocor's innovative treatment, NVC-001, leverages an AAV-based gene therapy approach to counteract the disease by restoring the integrity of the nuclear envelope. Early preclinical models have shown promising results, including significant survival benefits and a favorable safety profile. The therapy works by reducing the mechanical forces exerted on the nucleus, thereby addressing a core aspect of the condition.

The funds raised will support a Phase 1/2 clinical trial of NVC-001, which is set to be an open-label, multicenter, ascending single-dose study. This trial will be conducted at various sites in the U.S. and Europe, aiming to demonstrate clinical proof-of-concept. Additionally, Nuevocor plans to establish an office in Paris, France, which will facilitate its clinical development efforts and help bring its innovative solutions to a global patient base.

Dr. Yann Chong Tan, CEO and Co-Founder of Nuevocor, expressed enthusiasm about reaching this significant financing milestone. He stated that the involvement of experienced international investors will allow Nuevocor to maintain its momentum and further the clinical development of NVC-001. Dr. Amanda Gett-Chaperot of Kurma Partners echoed this sentiment, highlighting the potential of Nuevocor to address unmet needs in the field of cardiomyopathies by tackling their underlying causes.

Dr. Elia Stupka of Angelini Ventures noted that investing in Nuevocor represents a strategic move into cardiovascular diseases and gene therapy, emphasizing the potential of the company’s novel approach to transforming patient outcomes. This investment marks an expansion of Angelini Ventures' interests into the Singapore biotech ecosystem, illustrating the firm's commitment to supporting groundbreaking healthcare innovations.

Nuevocor is leveraging its proprietary PrOSIATM mechanobiology platform, which allows it to identify and target the functional root causes of cardiomyopathies, thereby offering a new avenue of treatment beyond traditional gene replacement therapies. The company aims to make a significant impact on the treatment landscape for genetic cardiomyopathies, particularly those that currently lack effective options.

With this new funding, Nuevocor is poised to make strides in developing therapies that could alleviate the burden of cardiovascular diseases, providing hope for many patients who currently have limited options. The involvement of prominent investors in this funding round underscores the potential impact of Nuevocor’s innovative approaches to cardiomyopathy treatment.