NanoPhoria Announces Second Close of its Series A Round, Now with Participation from European Innovation Council Fund
- EIC investment is part of NanoPhoria’s record-breaking € 83.5m series A round
- NanoPhoria will continue to benefit from the EIC-associated ecosystem as it progresses towards clinical activities
MILAN — NanoPhoria Bioscience, the company which recently received the largest ever Series A financing round in Italian biotech history, has today announced the second closing of its series A round.
The second closing does not change the total amount raised, but means that NanoPhoria can now declare that it secured a €15 million equity investment from the European Innovation Council Fund.
Alongside the EIC, NanoPhoria also secured financial support in its Series A from XGEN Venture, Sofinnova Partners, CDP Venture Capital, and Panakes Partners.
As disclosed previously, the Series A round, which summed to €83.5m (USD 98m) will enable NanoPhoria to continue the development of its lead asset, NP-MP1, through IND-enabling studies and early clinical development.
NP-MP1 is a first-in-class peptide that targets cardiac L-type calcium channels to improve ejection fraction for the treatment of heart failure with reduced ejection fraction (HFrEF).
NP-MP1 is delivered via NanoPhoria’s lung-to-heart, Nano-in-Micro technology, and it has demonstrated excellent efficacy in preclinical models of heart failure. NP-MP1 aims to address the root cause of HFrEF – a condition that impacts approximately 30m people globally, with a five-year mortality rate of around 40% – by improving the contractility of the heart.
“Receiving EIC Fund support is hugely meaningful for any biotech company,” said NanoPhoria’s Co-founder and CEO, Claudio De Luca. “By securing their backing, we have proven that NanoPhoria embodies the best features of European science – ambition, discipline and true expertise. We look forward to working alongside them in the future and thank them for their continued support.”
Svetoslava Georgieva, Chair of the EIC Fund Board added: “EIC Fund’s investment in Nanophoria underscores our commitment to backing innovative companies that aim to improve the health and well-being of European citizens. Nanophoria’s lead product, NPMP1, addresses a critical unmet need in heart failure, and its technology has the potential to redefine targeted cardiology therapeutics.”
Alessandro Scortecci, Director Direct Investments of CDP Venture Capital said: “Nanophoria contributes to bringing Italian research on the global stage, its NP-MP1 has the potential to significantly improve patients’ lives by addressing a specific heart disease currently lacking effective treatments. The team has already achieved important milestones and has demonstrated ambition and a truly global perspective. We are proud to support Nanophoria in its next phase of growth”.
About NanoPhoria
Founded in 2022 by Daniele Catalucci, Michele Iafisco, Alessio Alogna and Claudio De Luca NanoPhoria is a spin-off from Italy’s National Research Council (CNR). The company is developing a versatile, Nano-in-Micro & lung-to-heart delivery platform based on inorganic calcium phosphate nanoparticles. The company’s first product is a pre-clinical stage treatment for heart failure with reduced ejection fraction (HFrEF), a chronic syndrome affecting the lives of millions worldwide. NanoPhoria is supported by Sofinnova Partners, XGEN Venture, CDP Venture Capital, the EIC-fund, and Panakes Partners. Learn more at NanoPhoria.com
About EIC-fund
The European Innovation Council Fund from the European Commission is a deep tech investor across all technologies. The EIC Fund aims to fill a critical financing gap, to support companies in the development and commercialisation of disruptive technologies. With its large network of capital providers and strategic partners it shares risk and crowds in market players.
Read more: https://eic.ec.europa.eu/eic-fund_en
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage.
Founded in 1972, Sofinnova Partners is a deeply established venture capital firm in Europe, with 50 years of experience backing over 500 companies and creating market leaders around the globe. Today, SofinnovaPartners manages over €4 billion in assets. For more information, please visit: sofinnovapartners.com.
About XGEN Venture
XGEN Venture is a premier venture capital firm dedicated to advancing innovations in the life sciences sector. With nearly two decades of experience, the founding team has a proven track record of building breakthrough life sciences startups in Italy and internationally. XGEN is currently investing out of its first fund, XGEN Venture Life Science Fund, launched in 2022, and focusing on early-stage investments across biotechnology, medical devices, and diagnostics. For more information: www.xgenventure.com
About CDP Venture Capital
CDP Venture Capital is an Asset Management Company with €4.7 billion in assets under management. It operates with a series of funds that aim to support startups throughout all their life stages, making both direct and indirect investments. The CDP Venture Capital contribution to Nanophoria’s Series A round was performed through its Large Ventures Fund. For more information: www.cdpventurecapital.it
About Panakès Partners
Panakès Partners is a Venture Capital firm, based in Milan, that invests in the most ambitious companies and teams developing revolutionary technologies and products in the field of life sciences with the aim of improving the lives of people around the world. Panakès, founded in 2016 by Fabrizio Landi, Alessio Beverina and Diana Saraceni, has €250 million under management. www.panakes.it