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Muna was formed in 2020 by progranulin pathway thought leader Professor Simon Glerup and his colleagues from Aarhus University in Denmark, in partnership with Novo Seeds, Novo Holdings' early-stage investment team.
FREMONT, CA: Novo Holdings, a global life science investor, has announced that it has co-led the Series A financing of its portfolio company, Muna Therapeutics ("Muna"), which is driving the development of first-in-class small molecule therapeutics for neurodegenerative diseases. Polaris Partners, Polaris Innovation Fund, V-Bio Ventures, Sanofi Ventures, and VIB also participated in the fundraising, as did Sofinnova Partners, Droia Ventures, and LSP Dementia Fund.
Muna was formed in 2020 by progranulin pathway thought leader Professor Simon Glerup and his colleagues from Aarhus University in Denmark, in partnership with Novo Seeds, Novo Holdings' early-stage investment team. Muna arose from Novo Seeds' company creation activities, in which the Novo team and its Entrepreneurs-in-Residence (EiRs) assist in the development of innovative biotech enterprises based on ground breaking new technology.
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Muna collaborated with K5 Therapeutics, a company co-founded in 2020 by Professor Bart De Strooper of VIB-KU Leuven, Belgium, a pioneer in neurodegenerative illness research, and investors Droia Ventures and VIB. Muna Therapeutics, the combined firm, will be domiciled in Copenhagen and Leuven and will be directed by seasoned pharma executives CEO Rita Balice-Gordon and COO Anders Hinsby, both EiRs of Novo Seeds.
Millions of people are affected by neurodegenerative illnesses, and the global burden is growing as the population ages. There are few palliative treatments available, and no curative therapy is currently accessible. Muna is dedicated to tackling the massive unmet demand suffered by patients suffering from neurodegenerative illnesses all throughout the world.
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