Stroke is the leading cause of adult disability in the developed world, affecting 33 million patients worldwide, with an estimated 17 million people suffering their first stroke each year. Despite available acute care treatment and rehabilitation therapies, more than half of the patients remain severely and permanently disabled.
Zurich-based biotech startup NovaGo Therapeutics AG is developing novel human antibody therapeutics to help patients recover from cerebral stroke and spinal cord injuries by stimulating nerve repair and regeneration.
The startup has raised €8.8 million in a Series A round led by Pureos Bioventures and the strategic partner Neurimmune. Dr. Dominik Escher, Partner at Pureos Bioventures will join NovaGo’s board of directors. The new capital will be used to develop NovaGo’s regenerative therapeutics towards clinical trials.
Founded in 2015 as a spin-off company from the University of Zurich, NovaGo Therapeutics 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.
“We are very pleased that we succeeded in securing additional funds in support of the development of our human antibodies,” said Prof. Martin E. Schwab, founder and President of NovaGo Therapeutics. “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.”