Pureos Bioventures invests in first company

04.03.2019 11:46

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NovaGo Therapeutics has closed a Series A financing round of CHF 10 million led by Pureos Bioventures and the strategic partner Neurimmune. It is the first investment for Pureos, the new venture fund of Bellevue Asset Management led by former Esbatech CEO Dominik Escher.

NovaGo Therapeutics is a Swiss start-up dedicated to the development of regenerative therapies for diseases of the central nervous system such as stroke and spinal cord injury. Its human antibody therapeutics promote regeneration after cerebral stroke The company was founded by Prof. Martin Schwab based on the discovery of the existence of “inhibitors of nerve fiber growth” as a cause of the absence of regeneration of injured fiber tracts in the central nervous system. NovaGo’s most advanced products are recombinant human monoclonal antibodies targeting the nerve outgrowth inhibitor Nogo-A.

The company has now secured financing from Pureos Bioventures and Neurimmune. Dominik Escher, Partner at Pureos Bioventures will join NovaGo’s board of directors. The proceeds will be used to develop NovaGo’s regenerative therapeutics towards clinical trials.

Prof. Martin E. Schwab, founder and President of NovaGo Therapeutics, and the discoverer of Nogo-A, commented: “We are very pleased that we succeeded in securing additional funds in support of the development of our human antibodies. Neurimmune and Pureos Bioventures share our vision of developing a therapy for regeneration after stroke. We welcome Dominik to our board of directors. His wealth of executive biotech experience will be instrumental for advancing NovaGo.”

NovaGo Therapeutics previously entered into a strategic partnership with Neurimmune to discover human antibodies targeting Nogo-A. Neurimmune’s Reverse Translational Medicine technology decodes genetic information of immune cells obtained from healthy aged people to identify next generation antibody therapeutics.

About Pureos Bioventures
Pureos Bioventures is a new venture capital fund located in Zurich to exclusively invest in private innovative drug development companies, with a special emphasis on the next generation of biological drugs and drug formats. The fund plans to invest in 15 to 20 private, innovative drug development companies located in Switzerland and abroad. The fund is sponsored by Bellevue Asset Management AG, a Swiss asset manager with a very strong and longstanding history in biotech investing.

(Press release - SK)

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