NovaGo Therapeutics Raises $30 Million in New Capital

(CONNECT) Neurimmune, together with Pureos Bioventures (Pureos Partners AG), based in Freienbach, Canton Schwyz, led the Series B financing round for NovaGo Therapeutics, which was completed in August. NovaGo Therapeutics is part of the Neurimmune Group and raised a total of $30 million in this funding round. According to a press release, other existing and new investors also contributed capital. In addition, there are non-dilutive grants from the Swiss Paraplegic Foundation and the Wings for Life – Spinal Cord Research Private Foundation.

The funds are intended to advance the clinical development of NG004 for the treatment of acute spinal cord injuries. The fully human antibody targets the Nogo-A protein, which inhibits nerve fiber regeneration and neuroplasticity in the central nervous system. The goal is to promote functional recovery following a spinal cord injury.

As part of this effort, SPROUT II—a randomized, double-blind clinical trial involving 120 participants at sites in Germany, Spain, and Switzerland—was launched. According to a statement from NovaGo Therapeutics, the transaction is expected to be completed in early 2029. An open-label Phase 1 trial has already been completed. “The promising results of the Phase 1 study with NG004 give us reason to be confident,” said Roger M. Nitsch, President and Chief Executive Officer of Neurimmune and a member of the Board of Directors of NovaGo Therapeutics.

NovaGo Therapeutics was spun off in 2015 from the research group led by Martin Schwab at the University of Zurich; Schwab currently serves as the company's Chief Scientific Officer. The startup is a member of the Schlieren-Zurich Bio-Technopark, where Neurimmune is also headquartered. NG004 was developed using Neurimmune's Reverse Translational Medicine (RTM) technology platform. ce/as