NanoPhoria Bioscience, a Milan-based biotech company, announced the closing of its first Series A financing round at €83.5 million. The round was led by XGEN Venture, Sofinnova Partners, and CDP Venture Capital, with participation from Panakès Partners and another undisclosed investor.
The funding will advance the development of NanoPhoria’s lead candidate, NP-MP1, through preclinical studies qualifying for an IND (Investigational New Drug) and the early stages of clinical development. NP-MP1 is a first-in-class peptide that targets cardiac L-type calcium channels to improve ejection fraction, representing a novel therapeutic strategy for the treatment of heart failure with reduced ejection fraction (HFrEF).
Delivered via NanoPhoria’s proprietary nano-in-micro lung-to-heart technology, NP-MP1 has demonstrated excellent efficacy in preclinical models of heart failure and aims to address one of the underlying causes of HFrEF by improving cardiac contractility. HFrEF is a disease that affects millions of people worldwide, with a five-year mortality rate of approximately 40%.
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“This funding represents a transformative milestone for NanoPhoria,” said Claudio De Luca, CEO and co-founder. “It allows us to accelerate the clinical development of NP-MP1 and expand our pipeline. Our innovative delivery platform allows us to reach previously inaccessible cellular targets in cardiomyocytes, bringing us closer to our goal of offering life-changing therapies to patients with serious cardiac and chronic diseases, often underserved by existing therapies. We are deeply grateful to our scientific founders, our investors, our Board of Directors, and our President, Suman Shirodkar, whose vision and dedication have shaped NanoPhoria’s progress and ambition.”
“This investment is perfectly aligned with XGEN Venture’s strategy, aimed at leading early-stage financing rounds for the most innovative Italian startups addressing real medical needs,” commented Paolo Fundarò, Managing Partner of XGEN Venture. “NanoPhoria’s science offers a novel and practical approach to delivering highly potent therapies directly to the heart, and we are thrilled to collaborate with such a top-tier consortium of investors.”
“NanoPhoria‘s platform has the potential to redefine treatment paradigms in cardiovascular and other chronic diseases, which is why we are thrilled to invest in this company,” added Henrijette Richter, Managing Partner of Sofinnova Partners. “This financing builds on the initial support provided by my colleague Lucia Faccio, Partner in the Sofinnova Telethon strategy, who has been instrumental in supporting the company in its early stages. This investment reflects Sofinnova’s broader commitment to supporting excellent science in Europe, from the creation of new companies to their advanced growth.”
Source: Businesswire