Noema Pharma has announced an extension of its series B financing round, bringing the total raised up to $147 million (CHF 130 million). The round extension has seen venture capital firm EQT Life Sciences join the Swiss company’s existing investors, which include Forbion, Jeito Capital, Sofinnova Partners, and Gilde Healthcare among others.
The funds will go towards four ongoing phase 2 clinical trials, with data readouts expected in 2025. Since its inception in 2019, Noema has built a pipeline of drug candidates dedicated to the treatment of debilitating conditions that affect the central nervous system (CNS), which are characterized by imbalanced neuronal networks.
Noema’s pipeline includes basimglurant (NOE-101), a negative allosteric modulator of mGlu5 receptors that is currently being evaluated in a phase 2b study as a treatment for seizures associated with tuberous sclerosis complex (TSC) and in a phase 2/3 trial as a treatment for neuropathic pain in trigeminal neuralgia.
The company is also evaluating gemlapodect (NOE-105) in a phase 2b trial as a treatment for Tourette syndrome, which is also under development for the management of childhood onset fluency disorder (COFD). A third candidate, NOE-115, is currently in phase 2 to treat vasomotor symptoms and other menopause symptoms.
Leadership and investor confidence drive growth
“This latest financing underscores the strong support and confidence from investors in Noema’s vision to treat neuroscience-based conditions,” said Ilise Lombardo, CEO of Noema Pharma. “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.”
Lombardo was appointed Chief Executive Officer of Noema Pharma in June this year, bringing over 25 years of experience in the central nervous system space. She previously co-founded Arvelle Therapeutics, a CNS company that was acquired by Angelini Pharma in 2021 for nearly $1 billion.
“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,” said Felice Verduyn-van Weegen, Partner at EQT Life Sciences. “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.”
