Denmark startup NMD Pharma has snagged a $47 million round of funding to push two programs for orphan neuromuscular disorders into proof-of-concept studies.
The Series A was backed by new investors Roche Venture Fund and INKEF Capital, the latter of which led the round. They were joined by existing investors Novo Seeds and Lundbeckfonden Emerge.
NMD is developing small molecule inhibitors of the muscle-specific chloride ion channel — the ClC-1 ion channel. The company says ClC-1 inhibition can strengthen neuromuscular transmission and ultimately skeletal muscle function in both fast and slow-twitch muscle fibers. NMD says the approach showed compelling data across several orphan neuromuscular diseases, including Myasthenia Gravis (MG) and Amyotrophic Lateral Sclerosis (ALS).
“We have been very impressed by NMD’s depth of expertise on ClC-1 in skeletal muscle function, their unique electrophysiological screening pipeline to identify novel ClC-1 inhibitors, and the effectiveness of their development strategy, as complemented by leading clinical research groups in the Netherlands,” said Lucas de Breed, director at INKEF Capital, in a statement. “We believe that with this funding round, NMD is well positioned to demonstrate significant impact on the unmet need of patients suffering from neuromuscular diseases and address other clinical opportunities to regain muscle strength.”
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