Noxxon raises €33M in fourth private round

Funding

Noxxon Pharma AG, which is specialising in the development of mirror image oligonucleotide therapeutics called Spiegelmers, has announced the successful closing of a €33 million fourth round led by new investor, NGN Capital, and joined by existing investors TVM Capital, Sofinnova Partners, Edmond de Rothschild Investment Partners, Seventure Partners, VCFonds Technologie Berlin GmbH, Dow Venture Capital, FCP OP MEDICAL BioHealth-Trends, IBG Beteiligungsgesellschaft Sachsen-Anhalt mbH, the Dieckell Group, and others.

The money will be used primarily for the ongoing clinical and pre-clinical development of Noxxon’s lead products NOX-E36, NOX-A12, and NOX-H94 in the fields of diabetic complications, oncology and haematology. The company says these products are high-potency inhibitors of their respective targets, generated with its proprietary Spiegelmer technology.

“This investment provides Noxxon with the funds to advance the clinical development of our three most advanced in-house programs without the need for additional external support. NGN´s decision to lead this round is a testament to the value of the Spiegelmer technology and the commercial potential of the development programmes pursued by Noxxon,” said Frank Morich, CEO.

Peter Johann, a Managing General Partner at NGN Capital said the company has made significant progress over the last years, bringing two Spiegelmers into the clinic and one more close to clinical development. “With the funding Noxxon will be able to further clinically validate its technology and achieve clinical proof of efficacy with the lead compounds.”