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Published: Jul 09, 2021 By Brandon May
Muna Therapeutics, a private Denmark- and Belgium-based biopharmaceutical company founded in 2020,
officially closed a $73 million Series A financing round. The company launches with the new funding to advance its focus on first-in-class small molecule therapies for neurodegenerative diseases.
The Series A financing was led by Novo Holdings in conjunction with Sofinnova Partners, DROIA Ventures and LSP Dementia Fund. Additional investors who joined the financing round included Polaris Partners, Polaris Innovation Fund, Sanofi Ventures, V-Bio Ventures and VIB.
Muna’s primary focus neurodegenerative diseases lead to disability and death of millions of people worldwide. There are currently no curative therapies available for many neurodegenerative conditions, a problem Muna hopes to address.
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Muna Therapeutics Launches with US$ 73M Series A to Advance Novel Small Molecule Therapeutics for Neurodegenerative Diseases
- Financing co-led by Novo Holdings, Sofinnova Partners, Droia Ventures and LSP Dementia Fund, with participation from Polaris Partners, Polaris Innovation Fund, Sanofi Ventures, V-Bio Ventures and VIB
- Developing small molecules to repair neuronal dysfunction and resolve neuroinflammation
- Innovative drug discovery platform leveraging insights from novel targets and pathways, resilience to neurodegeneration and all-in-human validation
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COPENHAGEN, Denmark, July 9, 2021 /PRNewswire/ Muna Therapeutics ( Muna ), pioneering the development of first-in-class small molecule therapeutics for neurodegenerative diseases, today announced the successful closing of a US$ 73 million (EUR 60 million) Series A financing round. The investor syndicate was co-led by Novo Holdings, Sofinnova Partners, Droia Ventur
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Novo Holdings Launches Muna Therapeutics with US$ 73M Series A to Advance Novel Small Molecule Therapeutics for Neurodegenerative Diseases
- Novo Holdings created and built Muna Therapeutics with pioneers in the field of neurodegeneration
- Led by an experienced management team of Entrepreneurs-in-Residence from Novo Seeds
- Financing co-led by Novo Holdings, Sofinnova Partners, Droia Ventures and LSP Dementia Fund, with participation from Polaris Partners, Polaris Innovation Fund, Sanofi Ventures, V-Bio Ventures and VIB
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COPENHAGEN, Denmark, July 9, 2021 /PRNewswire/ Novo Holdings, a global life science investor, today announces that it has co-led the Series A financing of its portfolio company, Muna Therapeutics ( Muna ), which is pioneering the development of first-in-class small molecule therapeutics for neurodegenerative diseases. The financing also includes Sofinnova Partners, Droia Ventures and LSP Dementia Fund wi
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