A Stevenage-based neuroscience company has raised an oversubscribed £50m Series B funding round to advance its lead drug candidate.
NRG Therapeutics, which is targeting a novel mechanism to address mitochondrial dysfunction, saw the round led by SV Health Investors’ Dementia Discovery Fund (DDF).
Other investors include British Business Bank, M Ventures, Novartis Venture Fund, Criteria Bio Ventures, Omega Funds, Brandon Capital and founding investor Parkinson’s UK through its Parkinson’s Virtual Biotech arm.
The funding will support NRG in advancing NRG5051, which has shown strong neuroprotective effects and reduced inflammation in pre-clinical models of Parkinson’s and ALS/MND.
NRG5051 has completed early safety studies and is expected to begin first-in-human trials in early 2026.
It will also fund studies through clinical proof of concept, including trials in ALS/MND and a Phase 1b study in Parkinson’s patients.
“I am delighted to welcome our new investors and thank our current investors for their unwavering support,” said NRG Therapeutics co-founder and CEO, Neil Miller.
“Developing new drugs to treat neurological diseases is very challenging but is receiving increased interest given the high unmet medical need and growing prevalence in ageing populations.
“These new funds provide the runway to advance our lead programme through PoC in ALS/MND, and to develop our portfolio of small molecule candidate drugs for other indications including Parkinson’s, offering new hope to the growing number of people and their families impacted by neurodegenerative disorders.”
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The MedTech has discovered a new way to block the mitochondrial permeability transition pore (mPTP), a key driver of cell damage in neurodegenerative diseases.
It has developed a new class of oral, brain-penetrant small molecule inhibitors targeting mPTP.
Mitochondria power cells, as well as nerve cells in Parkinson’s and ALS/MND are especially vulnerable because of their high energy needs.
In these diseases, toxic proteins damage mitochondria, leading to cell death. By preventing mPTP from opening, NRG’s inhibitors protect mitochondria and preserve neurons in pre-clinical models.
Laurence Barker, partner leading DDF at SV Health Investors, added: “The strength and breadth of NRG’s pre-clinical data gives us real confidence that NRG’s approach could halt or significantly slow disease progression across multiple neurodegenerative diseases.
“We are excited that NRG’s lead drug candidate has the potential to be the first disease-modifying therapeutic for sporadic ALS/MND and dementia indications such as Parkinson’s.”
In association with the Series B raise, Barker, along with Emma Johnson (British Business Bank), Charlotte Kremers (M Ventures) and Florian Muellershausen (Novartis Venture Fund) will join NRG’s board of directors.
Professor David Dexter, director of research at Parkinson’s UK, has also been appointed as a special advisor on Parkinson’s.