Venture capital firm Wellington Partners has led a €2.7m Series A round for German pharmaceutical startup Neuway Pharma.
The company is focused on the preclinical and clinical development of innovative therapeutics for treatment of orphan brain diseases based on its CNS drug delivery platform.
Neuway said that it also intends to partner its drug delivery technology for other CNS indications.
The company was founded last month as the first spin-off from Life Science Inkubator in Bonn.
The project was incubated within LSI for the past four years and has received research funding of €2.3m from the Federal Ministry of Education and Research.
Wellington general partner Rainer Strohmenger said, “If you find a way to transport any kind of molecules through the blood brain barrier and into the neurons and other cells of the CNS you may have the key to treat many life-threatening brain diseases much more effectively, in particular genetic diseases, which represent one of the largest unmet medical needs today.
“This is why we are strongly committed to this project, and both my partner Dr. Erich Schlick and I will very actively engage on the advisory board.”
Last October Wellington backed a €34m Series D financing round for German anti-cancer vaccine maker Immatics Biotechnologies.
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