NovaGo Therapeutics raises CHF 10 million in a Series A financing round
ZURICH, Switzerland, March 04, 2019 – NovaGo Therapeutics AG, a Swiss biotech company developing human antibody therapeutics to promote regeneration after cerebral stroke, has closed a Series A financing round of CHF 10 million led by Pureos Bioventures and the strategic partner Neurimmune. Dr. Dominik Escher, Partner at Pureos Bioventures will join NovaGo’s board of directors. The proceeds will be used to develop NovaGo’s regenerative therapeutics towards clinical trials.
Prof. Martin E. Schwab, founder and President of NovaGo Therapeutics, and the discoverer of Nogo-A, commented: “We are very pleased that we succeeded in securing additional funds in support of the development of our human antibodies. Neurimmune and Pureos Bioventures share our vision of developing a therapy for regeneration after stroke. We welcome Dominik to our board of directors. His wealth of executive biotech experience will be instrumental for advancing NovaGo.”
NovaGo Therapeutics, founded 2015 as a spin-off company from the University of Zurich, previously entered into a strategic partnership with Neurimmune to discover human antibodies targeting Nogo-A. Neurimmune’s Reverse Translational Medicine™ technology decodes genetic information of immune cells obtained from healthy aged people to identify next generation antibody therapeutics.