Forbion co-leads CHF 103 million investment in Noema Pharma

Naarden, The Netherlands – 07 March 2023 – Forbion, a leading European life sciences venture capital firm, today announces that it has co-led a CHF 103 million (approx. USD 112 million) Series B financing in Noema Pharma, a clinical-stage biotech company targeting debilitating central nervous system (CNS) disorders. Noema Pharma is Forbion’s fourth investment from its Growth Opportunities II fund which completed a first close of €470 million in July 2022. This second Forbion Growth Opportunities Fund invests in mostly European, later-stage biopharma companies, developing novel therapies for areas of high medical need such as CNS conditions. Nanna Lüneborg, General Partner at Forbion will join Noema Pharma’s Board of Directors.

Forbion was joined by Jeito Capital as new investors in the oversubscribed financing. Also new to the syndicate were UPMC Enterprises and an undisclosed investor who were joined by existing investors Sofinnova Partners, Polaris Partners, Gilde Healthcare and Invus.

Nanna Lüneborg, General Partner at Forbion commented, “Noema Pharma is a prime example of how investments from our Growth Opportunities Fund II can positively impact areas of healthcare with high unmet medical needs such as CNS disorders. We have been following Noema Pharma since inception, and have been impressed by the quality and progress of its clinical pipeline and believe this is the right time to invest as the Company has started to generate very encouraging clinical data in indications of high unmet need, particularly with its lead asset, basimglurant. This is the fourth company that we have invested in from our second growth fund, and it reflects the continuing need for late-stage finance in a maturing European life sciences industry.”

Luigi Costa, Chief Executive Officer of Noema Pharma added, "We are excited to announce the successful completion of this oversubscribed Series B financing round and very pleased to have a world-class group of investors supporting our vision of bringing much-needed treatments to those living with debilitating central nervous system disorders. We welcome our new investors who bring extensive expertise and knowledge of drug development and company building and add further strength to our robust investor base. This financing comes at a key time for Noema Pharma as we look forward to extensive news flow over the next 24 months.”

Proceeds from the financing will be used to advance Noema Pharma’s clinical-stage assets, including its lead compound basimglurant (NOE-101), an mGluR5 inhibitor which is being evaluated in Phase 2b clinical trials for severe pain in Trigeminal Neuralgia (TN) and seizures in Tuberous Sclerosis Complex (TSC). The Company is also developing gemlapodect (NOE-105), a PDE10a inhibitor which is being evaluated in Phase 2b clinical trials for Tourette Syndrome and Childhood Onset Fluency Disorder (COFD) or Stuttering; and NOE-115, a Phase 2 ready triple reuptake inhibitor for Atypical Depression and Binge Eating Disorder.

Read the official company release here.