NanoPhoria Bioscience, a biotech company based in Milan, announced the first close of its €83.5 million Series A financing round. This round was led by XGEN Venture, Sofinnova Partners, and CDP Venture Capital, with additional investments from Panakès Partners and one other undisclosed investor.
The funds raised will support the development of NanoPhoria’s lead candidate, NP-MP1, through IND-enabling studies and early clinical trials. NP-MP1 is a first-in-class peptide designed to target cardiac L-type calcium channels, aiming to improve ejection fraction for treating heart failure with reduced ejection fraction (HFrEF).
Administered using NanoPhoria’s proprietary lung-to-heart nano-in-micro technology, NP-MP1 has shown impressive efficacy in preclinical models of heart failure. The treatment seeks to address a fundamental cause of HFrEF by enhancing cardiac contractility. HFrEF is a condition that impacts millions of people worldwide, with a five-year mortality rate of approximately 40%.
KEY QUOTES:
“This financing is a transformational milestone for NanoPhoria. It enables us to accelerate clinical development of NP-MP1 and expand our pipeline. Our innovative delivery platform allows us to target previously inaccessible cellular targets in the cardiomyocyte, thereby bringing us closer to delivering life-changing treatments for patients living with serious cardiac and other chronic conditions who are underserved by existing treatments. We are profoundly grateful to our scientific founders, our investors, our Board, and our Chair, Suman Shirodkar, whose vision and efforts have shaped NanoPhoria’s progress and ambition.”
Claudio De Luca, CEO and co-founder
“NanoPhoria’s platform has the potential to redefine treatment paradigms in cardiovascular and other chronic diseases which is why we are excited to invest in this company. This financing builds on the early support of my colleague Lucia Faccio, Partner in the Sofinnova Telethon Strategy, whose role was instrumental in supporting the company in its early days to take shape. The investment reflects Sofinnova’s broader commitment to backing world-class science across Europe, from early-stage company creation to late-stage growth.”
Henrijette Richter, Managing Partner at Sofinnova Partners
“This investment perfectly aligns with XGEN’s strategy to lead early financing rounds in the most innovative Italian startups that address true medical needs. NanoPhoria’s science provides a novel, and viable, way of delivering highly potent therapeutics directly to the heart and we look forward to working alongside such a fantastic syndicate of investors.”
Paolo Fundarò, Managing Partner at XGEN Venture
