NuraBio closes $140m fundraising to develop neuroprotective drugs
Nura Bio has announced the addition of $68 million to its series A financing, closing the round with a total of $140 million. The investment was led by The Column Group and joined by Samsara Bio Capital, Euclidean Capital and Sanofi Ventures.
Based in San Francisco, Nura Bio is a clinical-stage biopharmaceutical company that focuses on the development of neuroprotective small molecule therapies to treat neurological diseases. The financing round was closed shortly following the release of positive data from a phase 1 clinical trial evaluating the safety of Nura Bio’s lead candidate, NB-4746, in healthy volunteers. The funds will support the company’s plans to initiate a phase 1b/2 study with the drug candidate in 2025.
NB-4746 is a small molecule designed to penetrate the brain that targets the SARM1 protein, which is involved in the process of axon degeneration, an early hallmark of several neurological diseases. In preclinical studies, the drug candidate has shown potential to prevent axon degeneration, providing neuroprotection in multiple models of nerve injury and diseases of the central, peripheral, and ocular nervous systems.
Along with the closing of the series A fundraising, Nura Bio has announced the appointment of Dr Shilpa Sambashivan as CEO and a company director. One of the founding members of Nura Bio, Dr Sambashivan has held the position of chief scientific officer of Nura Bio during the company’s journey since its foundation all the way through to the successful completion of the phase 1 clinical trial with the lead drug candidate.
Neuroprotective therapies
“At Nura Bio, we have been laser-focused on our mission of delivering novel neuroprotective therapies to patients by leveraging our deep scientific understanding of underlying disease mechanisms including axon degeneration and neuroinflammation. The strong support demonstrated by our investors through this financing reflects the tremendous potential of our R&D pipeline,” said Dr. Sambashivan.
“I am proud of the results our team has delivered. I look forward to leading the company through this next phase as we prepare to test the SARM1 hypothesis in a patient population in 2025 with our lead candidate NB-4746 while continuing to advance our promising preclinical pipeline.”
Nura Bio’s lead investor, The Column Group, is a venture capital firm specialized in building and supporting early-stage drug discovery companies with unique scientific platforms. Back in 2018, The Column Group conceived Nura Bio with the goal of revolutionizing the treatment of neurological diseases with novel neuroprotective drugs.
“Nura Bio has successfully transitioned to a clinical-stage organization, making remarkable progress in identifying ways to translate complex biology into potential therapies,” said Tim Kutzkey, Managing Partner at The Column Group and Nura Bio’s founding chairman. “We are excited to continue to support the company through this next phase of growth and clinical development.”
