Sofinnova, NEA in CHF 22.5m funding round for Polyneuron

Other existing investors participated. Sofinnova managing partner Graziano Seghezzi and NEA general partner David Mott will join the company's board of directors.

Sofinnova is currently investing from its Crossover Fund I, which held its first close on €275m in April 2018. The fund seeks to invest in around 15 companies in its lifecycle, typically looking to list them within 12-18 months. It focuses on companies with enterprise values of €50-150m and provides equity tickets of €15-20m, investing a maximum of €25m per company.

The fresh capital will be used to perform a first-in-human trial with a potential treatment for anti-MAG neuropathy. The company will also broaden its Antibody-Catch product portfolio by advancing three programmes through preclinical development.

Previous funding
In 2016, the company raised more than CHF 3m from investors such as EVA Basel and Zürcher Kantonalbank.

In May 2018, a CHF 3.1m seed funding round was led by EVA Basel and included the Zürcher Kantonalbank and private investors.

Company
The company develops a new class of biodegradable glycopolymers for the treatment of autoimmune diseases.

Polyneuron was founded as a University of Basel spinout in 2014. The company is headquartered in Basel and has been supported by the BaseLaunch Accelerator initiative.

People
Sofinnova Partners – Graziano Seghezzi (managing partner).
New Enterprise Associates – David Mott of NEA (general partner).
Polyneuron Pharmaceuticals – Ruben Herrendorff (CEO, co-founder).

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