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Polyneuron Pharmaceuticals, a BaseLaunch portfolio company, 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.

Polyneuron has its headquarters in the Technologiepark Basel.

Full press release can be found here.



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