The financing round, led by Neurimmune and Pureos, provides the capital necessary to launch a randomized, double-blind trial. This study will enroll 120 patients across Germany, Spain, and Switzerland to test the efficacy of the company's candidate, NG004. In addition to equity investments, the project received non-dilutive support from the Swiss Paraplegic Foundation and the Wings for Life - Spinal Cord Research Foundation.
NovaGo Therapeutics Raises USD 30 Million for Spinal Cord Injury Trial
With USD 30 million in new Series B funding, Swiss biotech NovaGo Therapeutics is moving its lead anti-Nogo-A biologic into a proof-of-concept study. The clinical trial aims to address the current lack of regenerative therapies for acute spinal cord injury by targeting proteins that inhibit nerve fiber regrowth.
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NovaGo’s therapeutic approach centers on neutralizing Nogo-A, a protein known to block neuroplasticity and nerve regeneration in the central nervous system. Following encouraging results from Phase 1 testing, company leadership and investors expressed confidence in the potential for a first-in-class regenerative treatment. Chief Scientific Officer Prof. Martin Schwab noted that the program has reached a critical stage, moving closer to providing a solution for patients who currently face limited options for recovering neurological function after traumatic injury.
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