Omega leads $16m round for Chord Therapeutics

Following the round, Omega managing director Claudio Nessi and principal Francesco Draetta will join Chord Therapeutics' board.

The fresh capital will facilitate the advancement of Chord Therapeutics' drug candidate CRDI to phase-II proof of concept clinical development trials.

Omega is currently deploying from Omega Fund VI, which held a final close in December 2019 on $438m. Omega focuses on life sciences investors in the US and Europe.

Previous funding
Chord Therapeutics raised a seed round backed by Eclosion Ventures in 2015.

Company
Biopharmaceutical company Chord develops therapies for rare and life-threatening orphan diseases, like myasthenia gravis (MG). The company is currently developing a therapy named CRD1, a small molecule oral drug for the treatment of neuromyelitis optica spectrum disorder (NMOSD), a rare autoimmune disease that affects the central nervous system. Chord is based in Geneva and was founded in 2014.

People
Chord Therapeutics – Tom Plitz (CEO); Arthur Roach (founder, director).
Omega Funds – Claudio Nessi (managing director); Francesco Draetta (principal).

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