Polyneuron Extends Series A to CHF36.5 Million

Polyneuron will use the proceeds to advance its lead product candidate PN-1007, a potential treatment for anti-MAG neuropathy, a serious nervous system disease with a high unmet medical need, through Phase I/IIa clinical development. Clinical studies with PN-1007 in patients are scheduled to begin before the end of 2020. The funding will also progress a second program, PN-1018, to the clinical trial application (CTA) approval stage. PN-1018 is being studied in Guillain-Barré Syndrome and Multifocal Motor Neuropathy. Polyneuron will also use the proceeds to accelerate preclinical development of its Antibody-Catch product portfolio in new indications, with a focus on antibody-mediated renal and hematological diseases.

“The interest from investors since the first closing has been phenomenal, so we decided to extend the Series A. We would like to welcome HBM Healthcare Investments to the consortium as part of that extension,” said Ruben Herrendorff, CEO and co-founder of Polyneuron. “The additional funds will enable us to take PN-1007 through Phase IIa and bring a second program, PN-1018, to the clinic, a great achievement for the whole Polyneuron team!”

Concurrent with the financing Emil Bujak from HBM Healthcare Investments has been appointed to the Board of Directors. “Polyneuron’s approach, using antigen-specific polymers to target and eliminate the pathological antibodies causing serious autoimmune diseases with a high unmet medical need, is unique and one we believe could resonate well in these difficult to treat diseases,” said Bujak.

HBM Healthcare Investments invests in the healthcare sector. Many of the portfolio companies have their lead products already available on the market or at an advanced stage of development. The portfolio companies are closely tracked and actively guided in their strategic direction. This is what makes HBM Healthcare Investments an interesting alternative to investments in big pharma and biotechnology companies. HBM Healthcare Investments has an international shareholder base and is listed on SIX Swiss Exchange (ticker: HBMN).

(Press release / SK)