Nanophoria, record funding of 83 million euros which represents an unprecedented injection of trust for the startup focused on cardiovascular therapies and for the entire Italian biotech sector.
The transaction, which stands as the largest ever recorded for a biotech startup in Italy, was led by a consortium of leading investors:
- Xgen Venture
- Sofinnova Partners
- Cdp Venture Capital
- Panakes Partners
This significant investment marks a fundamental milestone for the company and for the entire national life science innovation ecosystem.
An innovative technology for cardiovascular diseases
Nanophoria’s mission is ambitious: to redefine therapeutic paradigms for cardiovascular disease and other high-impact chronic conditions. The capital raised will be crucial to accelerate the development of NP-MP1, the company’s most advanced drug candidate, intended for the treatment of heart failure.
The funds will support the preclinical studies needed to submit the Investigational New Drug (IND) application to the US FDA, an indispensable formal step in starting the human clinical trial.
“This funding allows us to accelerate the clinical development of NP-MP1 and expand our pipeline,” said Claudio De Luca, CEO and co-founder of Nanophoria. “Our innovative delivery platform allows us to reach hitherto inaccessible cellular targets in cardiomyocytes, bringing us closer to the goal of offering life-changing therapies for patients.”.
NP-MP1: A New Hope for Heart Failure (HFrEF)
The drug NP-MP1 is based on proprietary “nano-in-micro” technology, which allows biological drugs to be administered directly to the heart through inhalation. This non-viral approach has demonstrated excellent efficacy in preclinical models of heart failure with reduced ejection fraction (HFrEF).
HFrEF is a debilitating disease that affects millions of people worldwide, with a five-year mortality rate of approximately 40%. Nanophoria therapy aims to intervene directly on one of the underlying causes of the disease, improving cardiac contractility.
Investor confidence in Italian biotech
The success of this funding round testifies to the scientific validity of the Nanophoria project and the attractiveness of the Italian biotech sector.
Paolo Fundarò, managing partner at Xgen Venture, commented: “The science of NanoPhoria offers a new and concrete approach to delivering highly potent therapies directly to the heart. We are excited to partner with a consortium of top-tier investors to support a company that responds to real medical needs.”.
With this capital, Nanophoria Bioscience is now positioned to accelerate its research and bring new hope to millions of patients around the world.
More content like this: Link
