Noema Pharma, a clinical-stage biotech company targeting debilitating central nervous system (CNS) disorders, announced the close of a Series B extension financing round with an investment from EQT Life Sciences, bringing the total capital raised in the round to CHF 130 million (approx. $147 million).
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With its investment in Noema Pharma, EQT Life Sciences joins the syndicate of previous Series B investors including Forbion, Jeito Capital, Sofinnova Partners, Gilde Healthcare, Polaris Partners, Invus and UPMC Enterprises.
The new financing will support Noema Pharma’s four active Phase 2 trials, with key data readouts anticipated in 2025. This includes additional development activities for basimglurant (NOE-101), an mGluR5 negative allosteric modulator currently in Phase 2 trials for severe pain in trigeminal neuralgia (TN) and seizures in tuberous sclerosis complex (TSC); gemlapodect (NOE-105), a PDE10a inhibitor in a Phase 2b trial for Tourette syndrome and under development for childhood-onset fluency disorder (COFD or stuttering); and NOE-115, a broad-spectrum monoamine modulator in a Phase 2 trial for vasomotor symptoms and other symptoms of menopause.
Ilise Lombardo, MD, CEO of Noema Pharma, stated: "This latest financing underscores the strong support and confidence from investors in Noema’s vision to treat neuroscience-based conditions. We are thrilled to welcome EQT Life Sciences into this strong syndicate of investors and have Felice join our Board. EQT’s support and expertise alongside our syndicate of investors will be invaluable as we progress our clinical programs and strive to make a meaningful impact on patients' lives."
Felice Verduyn-van Weegen, partner at EQT and member of the Board at Noema, said: "Noema Pharma's innovative approach to CNS disorders aligns very well with our investment strategy and we are excited to support their late-stage clinical pipeline and transformative therapies. Having worked with Ilise Lombardo on a previous successful investment, her exceptional leadership as a repeat entrepreneur reinforces our confidence in Noema's potential to deliver meaningful impact to patients in need.”
The Series B extension follows the initial Series B financing of CHF 103 million ($112 million) announced on March 2023, and a CHF 54 million (approx. $60 million) Series A round in December 2020. Noema Pharma was founded in 2019 with seed investment from Sofinnova Partners.