Developing treatments for central nervous system disorders will transform the lives of patients across the world.
UPMC Enterprises has invested as part of a syndicate in Noema Pharma, a clinical-stage biotech company targeting debilitating central nervous system (CNS) disorders. Noema, which is based in Basel, Switzerland, recently announced the successful close of an oversubscribed Series B financing round, raising approximately $112 million. The round was co-led by leading European health care focused investment firms Forbion and Jeito Capital. UPMC Enterprises and an additional new investor joined existing investors Sofinnova Partners, Polaris Partners, Gilde Healthcare and Invus to complete the round.
“We are excited to announce the successful completion of this oversubscribed Series B financing round and very pleased to have a world-class group of investors supporting our vision of bringing much-needed treatments to those living with debilitating central nervous system disorders,” said Luigi Costa, Chief Executive Officer of Noema Pharma.
Noema plans to use the funding to advance their clinical-stage assets that treat a range of CNS disorders including Trigeminal Neuralgia, Tuberous Sclerosis Complex, Tourette Syndrome, Child Onset Fluency Disorder (Stuttering), Atypical Depression, and Binge Eating Disorder. The company focuses on developing treatments for pernicious CNS conditions characterized by imbalanced neuronal networks which lead to severe symptoms and significant impact on patients’ lives.
The addition of Noema to the UPMC Enterprises portfolio underscores the Translational Sciences team’s focus on CNS diseases and the importance of contributing to the development of treatments for patients around the world. Noema’s demonstrated success, strong management team, top-notch investors, and substantial market potential set the stage for a great partnership.
“Investing in Noema’s multiple clinical stage assets that target indications prevalent in CNS disorders with high unmet need that have either no approved therapies or where approved therapies have limited efficacy and/or poor side effect profiles is an exciting opportunity for UPMC. By partnering with Noema and bringing UPMC’s expertise to bear, we can help bring meaningful improvements to patients suffering with CNS disorders like Tuberous Sclerosis, Trigeminal Neuralgia and Tourette’s syndrome.” says Jamie Bauersmith, Vice President of Translational Sciences.
To learn more about Noema’s fundraising announcement, read the full press release here.