Skip to main content

Investors see great potential in Polyneuron

| News

Investors see great potential in Polyneuron

17.09.2020

The Basel-based company Polyneuron Pharmaceuticals extended its Series A funding round and has now raised a total of 36.5 million Swiss francs. Investors also helped the company be included on a list of the 25 most promising Swiss startups that are older than five years.

Polyneuron Pharmaceuticals has concluded the extension of its Series A financing round. With further investment of 14 million francs, the startup has therefore raised a total of 36.5 million francs, as was reported in a press release. A new addition to the consortium of investors was the Swiss investment firm HBM Healthcare Investments. Existing investors include the French venture capital firm Sofinnova Partners, the U.S. venture capital firm New Enterprise Associates and other private investors.

Polyneuron will use the proceeds to advance its lead product candidate, PN-1007. This was developed as a treatment for anti-MAG neuropathy, an autoimmune disease. Patients with anti-MAG neuropathy predominantly suffer from sensory loss in their arms and legs, neuropathic pain and a loss of coordination that can substantially impair mobility. With  progression of the disease, peripheral nerves suffer ever more damage. PN-1007 was designed to target the autoantibodies that cause the disease.

Polyneuron will also use the funding to progress a second program, PN-1018. This candidate is being studied for the treatment of Guillain-Barré Syndrome and Multifocal Motor Neuropathy.

In addition to concluding the financing round, Polyneuron has enjoyed another success: the company was included in a list compiled by Venturelab of the 25 most promising Swiss startups that are aged five years or more. The startup was selected by a jury of investors. According to Venturelab, these 25 companies represent the future of Swiss unicorns, startup companies with a value of more than US$ 1 billion.

Polyneuron has its headquarters in the Technologiepark Basel. The company is supported by the accelerator and incubator BaseLaunch.

Share this article

Sign up to receive our newsletter in your inbox.

You may also be interested in

Nouscom secures 67.5 million euros in financing

Biotech company Nouscom has raised 67.5 million euros in a series C financing round. The Basel-based firm intends to use...
Read More

Celebrating six months of innovation: i4Challenge accelerator New Ideas 2022/2023

On the 5th of July 2023, the 3rd iteration of the i4Challenge accelerator program New Ideas came to its conclusion....
Read More

How open innovation in healthtech hubs is fueling the rise of digital healthcare

How the ever-increasing uptake of digital solutions is enhancing patient engagement, increasing access to care and lowering the cost of...
Read More

Paradigm shift in pain management

Pain is a crucial sensation for survival, but it can also drive us to depression and long-term suffering if not...
Read More

BOOM Summit in Basel accelerates health technology

The BOOM Summit at Messe Basel in April 2024 will be a completely new kind of healthcare conference. The first...
Read More

Investors stump up 3.7 million Swiss francs in Onena Medicines

Onena Medicines has secured an investment of 3.7 million Swiss francs. The portfolio company of the biotech startup incubator BaseLaunch...
Read More

Do you have a question? We'd like to hear from you.