Index Ventures backs series-B round in Mind-NRG

The series-B financing round, in which LRM was the lead investor, will partly be used to further enhance research efforts for NRG-101, a neurotrophic factor with disease-modifying potential. The rest of the capital will then be used to start clinical trials.

In October 2010, Index Ventures allocated up to €10m to the start-up as part of a series-A financing round, with €1.5m invested immediately.

Index Ventures launched its first fund solely dedicated to life sciences in March last year. The $200m vehicle received commitments from GlaxoSmithKline and the venture capital arm of Janssen.

Company
Mind-NRG was founded in 2010 and is based in Geneva. The firm develops and researches neuregulins in order to treat neurological and psychiatric disorders. It is developing the NRG-101 neurotrophic factor, which is aiming to enable treatment of early stages of neurodegenerative diseases, such as Parkinson's, Alzheimer's and schizophrenia.

NRG-101 is able to naturally cross the blood-brain barrier in the human body through a receptor-mediated transport.

People
Debora Dumont is head of health and care at LRM and will join the board of directors at Mind-NRG. Nico Vandervelpen is chief operating officer at LRM. Michèle Ollier is Mind-NRG's chairman and a partner at Index Ventures.

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