CHF 3 million to fight autoimmune disease
12.05.2016
Polyneuron a spin-off of the University of Basel is developing a compound for the treatment of autoimmune disorders. The substances developed on the Antibody-Catch technology platform block specific antibodies that attack the body's own tissue. In June 2015, the Basel-based startup was part of the venture leaders US program in Boston and New York and won the third round of the Venture Kick initiative. If this isn't enough the startup was one of the newcomers in the TOP 100 Swiss Startup Ranking 2015. Now the team completed a financing round raising over CHF 3 million with a group of private investors together with early investors such as the EVA Basel and the ZKB.
 Ruben Herrendorff, co-founder of Polyneuron
|
 |
The funding will be used to progress the further development of the company’s drug discovery platform for autoimmune diseases and the preclinical development of its lead candidate calles PN-1007 for the treatment of anti-MAG neuropathy, a devastating autoimmune disorder affecting the peripheral nervous system. PN-1007 selectively targets and eliminates the disease-causing autoantibodies and potentially enables a first highly specific immunotherapy for this rare disorder with a significant unmet medical need.
The team of Polyneuron
Dr. Ruben Herrendorff, CEO and founder of Polyneuron said: “The successful closing of our seed financing round puts us in a position to rapidly develop PN-1007 towards the clinic and to further expand our Antibody-Catch® technology platform. The company team is confident that the Antibody-Catch® approach carries the potential to realize breakthrough treatments for specific autoimmune conditions – for the benefit of affected patients, which nowadays can mostly only be treated with non-selective immunosuppressive agents.”
Polyneuron Pharmaceuticals AG is a Swiss biotech company developing carbohydrate-based drugs for the targeted treatment of autoimmune disorders affecting the nervous system. Polyneuron’s Antibody-Catch® technology platform enables the rational design of immunomodulatory compounds acing as molecular scavengers for disease-causing autoantibodies.
Learn more about Ruben Herrendorff, co-founder of Polyneuron in the venture leaders video from 2015
Learn more about Ruben Herrendorff, co-founder of Polyneuron in the venture leaders video from 2015