CPE News (2.29.2024) – Neurenati Therapeutics has announced the closing of $1.2 million in seed funding from Genson Capital.
Founded by Nicolas Pilon, Rodolphe Soret, and Québec City based Axelys and Neurenati Therapeutics is a Montréal based biotech company dedicated to developing therapies for rare diseases. The first technology targets Hirschsprung disease (HSCR), a life-threatening gastrointestinal (GI) birth defect characterized by the lack of nerves in parts of the lower GI tract.
Combined with the CQDM-SynergiQc grant, this financing will accelerate the development of NEU-001, a first-in-class therapy to Hirschsprung’s disease (HSCR), a rare gastrointestinal condition affecting approximately 100 Canadian newborns every year.
Neurenati Therapeutics has also announced the appointment of Alexandre Lebeaut as independent director who joins Soret, Benoit Doré (Axelys), and Chair Maxime Ranger (Neurenati).
photo credit: Neurenati Therapeutics
News Release
Neurenati Therapeutics Concludes a 1.2 Million $ Seed Financing Round to Develop NEU-001 as a Promising Therapy for Hirschsprung Disease
February 29, 2024 07:00 AM Eastern Standard Time
MONTREAL–(BUSINESS WIRE)–Neurenati Therapeutics is delighted to announce the successful closing of its seed funding round, securing 1.2 million $ from Genson Capital, on the 2024 Rare Disease Day. Neurenati, a Québec-based biotech company, focuses on the development of various rare diseases therapies, including pediatric conditions. Combined with the CQDM-SynergiQc grant, this financing will accelerate the development of NEU-001, a first-in-class therapy to Hirschsprung’s disease (HSCR), a rare gastrointestinal condition affecting approximately 100 Canadian newborns every year.
Maxime Ranger, President and CEO of Neurenati Therapeutics commented, “Currently, surgery remains the only option to newborns with HSCR. Post-surgery, more than 40% of patients will endure various inflammatory bowel diseases, including enterocolitis and other complications during all their life. Our goal is to offer a non-surgical therapy aimed at promoting nerve cell formation to complete the development of the enteric nervous system.”
Since 2021, Neurenati has held exclusive worldwide rights to an innovative growth factor technology developed by Nicolas Pilon and Rodolphe Soret, respectively professor and associate professor in the Department of biological sciences at the Université du Québec à Montréal (UQAM). It should also be noted that professor Pilon holds the UQAM Research Chair in Rare Genetic Diseases and manages the Center of Excellence in Research on Orphan Diseases – Fondation Courtois (CERMO-FC). In addition to the research conducted at UQAM, the two scientists are actively involved in the company’s strategy and activities. Neurenati continues to keep the seed round open, and additional funding is expected during 2024. The Company aims to file an Investigational New Drug (IND) application for NEU-001 in the second half of 2025.
This successful story would not have been possible without Axelys’ expertise in intellectual property and licensing management, business coaching and technological maturation, in addition to initial financial support from the du ministère de l’Économie, de l’Innovation et de l’Énergie (MEIE).
“Axelys is very proud to contribute to the creation of Neurenati. In partnership with MEIE, Axelys was able to provide financial support in addition to its expertise in technological maturation. Once again, a very good example of what Axelys can do to support the transformation of ideas into innovations, for the benefit of Quebec’s sustainable prosperity,” said Jesse Vincent-Herscovici, CEO of Axelys.
APPOINTMENT OF AN INDEPENDENT DIRECTOR ON THE BOARD
Neurenati Therapeutics announced today the appointment of Alexandre Lebeaut as independent director of the Board. With over 35 years of experience in drug development, including a focus on pediatrics and gastroenterology, Dr. Lebeaut brings valuable expertise, particularly in rare diseases, gained during his tenure at Ipsen. As fourth member of the Board, he joins Rodolphe Soret (cofounder), Benoit Doré (Axelys), and Maxime Ranger (Neurenati).
ABOUT NEURENATI
Neurenati Therapeutics is a Québec-based biotech company dedicated to developing therapies for rare diseases. The first technology targets Hirschsprung disease (HSCR), a life-threatening gastrointestinal (GI) birth defect characterized by the lack of nerves in parts of the lower GI tract. Neurenati proposes an innovative therapy via growth factor to treat newborns with HSCR, thereby averting the need for surgery and its associated complications.
ABOUT CERMO-FC
The Center of Excellence in Research on Orphan Diseases – Fondation Courtois (CERMO-FC), founded at UQAM, brings together more than 70 researchers with diverse complementary expertise in biomedical and biopharmaceutical research. CERMO-FC is dedicated to advancing knowledge and developing therapeutic targets for orphan diseases to enhance patient care and quality of life. At the same time, CERMO-FC prepares the next generation of researchers in this field through its teaching and training activities.
ABOUT AXELYS
Axelys is a non-profit organization whose mission is to contribute to the economic and social prosperity of Quebec by accelerating the development and transfer of high-potential innovations stemming from public research. Axelys offers consulting and support services in development, intellectual property management and innovation transfer to all public research institutions in Quebec, in all regions. In addition, Axelys contributes to the creation of scientific companies spun off from public research, like Neurenati Therapeutics.
Contacts
MEDIA
Maxime Ranger, PhD MBA
President and CEO
Neurenati Therapeutics Inc
E: maxime@neurenati.com
T: +1.514.825.9035