Pharmaceutical firm NRG Therapeutics secures £50 million funding for combating neurodegenerative conditions
NRG Therapeutics Secures £50m Series B Funding for Neurodegenerative Disease Drugs
NRG Therapeutics, a neuroscience company based in Stevenage, has successfully raised an oversubscribed £50m Series B funding round. The funding will support the company in advancing its lead programme and developing a portfolio of small molecule candidate drugs for various indications, including Parkinson's and ALS/MND.
The funding round was led by SV Health Investors' Dementia Discovery Fund (DDF). Other investors in the round include British Business Bank, M Ventures, Novartis Venture Fund, Criteria Bio Ventures, Omega Funds, Brandon Capital, and Parkinson's UK through its Parkinson's Virtual Biotech arm.
The new funds will provide the runway to advance NRG's lead programme through proof of concept (PoC) in ALS/MND, and to develop its portfolio of small molecule candidate drugs for other indications.
NRG Therapeutics has developed a new class of oral, brain-penetrant small molecule inhibitors targeting the mitochondrial permeability transition pore (mPTP). In neurodegenerative diseases, toxic proteins damage mitochondria, leading to cell death. NRG's inhibitors protect mitochondria and preserve neurons in pre-clinical models.
The company's lead drug candidate, NRG5051, has shown strong neuroprotective effects and reduced inflammation in pre-clinical models of Parkinson's and ALS/MND. NRG5051 is expected to begin first-in-human trials in early 2026, following the completion of early safety studies.
The funding will also support studies through clinical proof of concept, including trials in ALS/MND and a Phase 1b study in Parkinson's patients.
In association with the Series B raise, Laurence Barker, Emma Johnson (British Business Bank), Charlotte Kremers (M Ventures), and Florian Muellershausen (Novartis Venture Fund) will join NRG's board of directors. Laurence Barker, partner leading DDF at SV Health Investors, expressed confidence in NRG's approach, stating that it potentially halts or significantly slows disease progression across multiple neurodegenerative diseases.
NRG Therapeutics co-founder and CEO, Neil Miller, expressed gratitude for the support, stating, "This funding round is a testament to the potential of our approach to treat neurodegenerative diseases, and we are excited to advance our lead programme and develop new drugs to address this significant unmet medical need."
Developing new drugs to treat neurological diseases is challenging but receiving increased interest due to the high unmet medical need and growing prevalence in ageing populations. The new directors who joined NRG Therapeutics in connection with the Series B funding round include Dan Griffiths.
Mitochondria, particularly those in nerve cells of Parkinson's and ALS/MND, are vulnerable due to their high energy needs. The mPTP is a key driver of cell damage in neurodegenerative diseases like Parkinson's and ALS/MND. NRG's lead drug candidate has the potential to be the first disease-modifying therapeutic for sporadic ALS/MND and dementia indications such as Parkinson's.
Professor David Dexter, director of research at Parkinson's UK, has been appointed as a special advisor on Parkinson's. The news of the funding comes as Manchester's Vypr expands with the launch of an AI platform, although this fact does not directly relate to NRG Therapeutics.
Poppy Gustafsson is no longer the Investment Minister, replaced by an individual whose primary affiliation is as the owner of Grimsby Town. This fact does not directly relate to the work of NRG Therapeutics.
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