Nuevocor, a biotechnology company based in Singapore with operations in Fort Washington, has raised $45 million in Series B funding to advance its gene therapy for heart failure, writes John George for the Philadelphia Business Journal.
The financing round was co-led by Kurma Partners of Paris and Angelini Ventures of Rome. Existing investors EDBI, ClavystBio, and Boehringer Ingelheim Venture Fund participated as well, along with Highlight Capital and SEEDS Capital.
Nuevocor, which has a presence in the Fort Washington Office Park, closed a $24 million Series A funding round four years ago.
The investment will allow the company to “continue its strong momentum” and advance NVC-001, its lead drug candidate, into clinical testing, said Yann Chong Tan, CEO and co-founder of Nuevocor.
Founded in 2021, Nuevocor focuses on cardiomyopathies – diseases of the heart muscle – driven by “aberrant mechanobiology,” which influences how cells behave.
NVC-001 is an experimental therapy which treats LMNA-related dilated cardiomyopathy. This is a genetic condition that affects more than 100,000 people in both the United States and Europe.
The company is also planning on establishing a Paris office that will support its clinical development efforts.
Read more about Fort Washington’s Nuevocor and what the funding means for their gene therapy in the Philadelphia Business Journal.
