Deepti Sri · · 2 min readSingapore biotech firm that treats heart disease nets $24m in series A money
Singapore-based biotech company Nuevocor announced it has raised US$24 million in its series A financing round led by EVX Ventures and the Boehringer Ingelheim Venture Fund (BIVF).
Yann Chong Tan, CEO of Nuevocor / Photo credit: Nuevocor
Investors including EDBI, Xora Innovation, and Seeds Capital also participated in the funding round.
The fresh funds will be used for the preclinical development of the company’s lead program, an adeno-associated virus (AAV) based gene therapy for patients suffering from dilated cardiomyopathy. The disease attacks the heart muscle and makes it harder for the heart to pump blood to the rest of the body.
Founded in April 2020, Nuevocor is a biopharmaceutical company focused on developing AAV gene therapy for the treatment of genetically defined cardiac diseases. It is “well-positioned” to treat LMNA (Lamin A/C), a protein coding gene, and other genetic cardiomyopathies. Diseases associated with LMNA include Hutchinson-Gilford progeria syndrome, Emery-Dreifuss Muscular Dystrophy 2, and Autosomal Dominant.
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“The current standard of care for dilated cardiomyopathy only serves to delay disease progression, and the only cure is to have a heart transplant,” said Yann Chong Tan, CEO of Nuevocor. He added that the gene therapy-based treatments have the potential to restore cardiac function in diseased hearts.
The company also plans to address other untreatable cardiomyopathies using its target discovery platform.
Editing by Collin Furtado and Jaclyn Tiu
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