Wellington-backed Neuway extends series-A to €5.85m

Additional funding came from Life Science Inkubator (LSI), Kreditanstalt für Wiederaufbau (KfW) and other unnamed investors.

The fresh capital will be used to develop a proprietary drug delivery platform and to allow Neuway to produce clinical trial material.

Neuway is the first spinout from Bonn-based LSI. The company's independence was also enabled by €2.3m in research funding from the Federal Ministry of Education and Research, secured prior to the spin-off. 

Previous funding
Neuway held the first closing for its series-A in May 2014 at €2.7m. At that point, Wellington Partners was also the lead investor, providing capital via its Wellington Partners IV Life Sciences Fund, which closed in September 2013 on €85m.

Company
Founded in 2014 and headquartered in Bonn, Neuway focuses on the pre-clinical and clinical development of therapeutic treatment for orphan brain diseases. It uses a central nervous system (CNS) drug delivery platform and intends to partner its technology with other CNS applications.

CNS drugs transport molecules through the blood brain barrier and into the neurons and cells of the CNS, which Neuway states will treat life-threatening brain diseases and genetic diseases more effectively.

People
Heiko Manninga is managing director of Neuway. Rainer Strohmenger is general partner at Wellington.

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