- Milan-based NanoPhoria raised €3.5 million in seed financing to advance its pre-clinical stage treatment for heart failure
MILAN, ITALY / ACCESSWIRE / May 12, 2022 / Sofinnova Partners, a leading European life sciences venture capital firm based in Paris, London and Milan, announced today a €3.5 million seed investment in NanoPhoria, a pre-clinical stage biotech company that is developing a versatile, non-viral drug delivery platform based on inorganic nanoparticles.
The investment was made through the Sofinnova Telethon Fund, the venture capital firm's early-stage strategy focused mainly on investments in rare and genetic diseases, and the largest fund entirely dedicated to biotechnology in Italy.
The lead product coming out of the platform is a treatment for heart failure with reduced ejection fraction (HFrEF), a chronic syndrome affecting the lives of millions worldwide.
Nanophoria was co-founded by Dr. Daniele Catalucci, Research Director at the Institute of Genetic and Biomedical Research (IRGB), National Research Council (CNR); Dr. Michele Iafisco, Senior Researcher at the Institute of Science and Technology for Ceramics (ISTEC), National Research Council; Dr. Alessio Alogna, Cardiologist and Clinical Scientist at Charité Universitätsmedizin Berlin; and the CEO, Claudio De Luca, a life science executive with more than 25 years of experience in leadership positions in medtech and biotech
"NanoPhoria is developing a cutting-edge approach for a non-viral delivery of biologics, targeted to the heart, and can count on a team of four co-founders whose skills are complimentary, with scientific, medical and industrial experience," said Lucia Faccio, a Partner with the Sofinnova Telethon Fund. "They are all actively involved in the management of the company."
The company, whose versatile platform allows selective targeting at the organ and/or cellular level, has been officially recognized as a spin-off of CNR, the largest multidisciplinary public research institution in Italy.
NanoPhoria will be presenting at the upcoming BioEquity conference, Europe's premier meeting of investors and biopharma executives, which will take place in Milan from May 16-18.
"We are pleased to have the support of Sofinnova Telethon Fund as we work to consolidate our nano-delivery platform and advance our first product towards the clinic," said Claudio De Luca, CEO and co-founder of NanoPhoria. "Our collaboration has already proved very positive. It will
strongly contribute to the acceleration of our development programs and help us bring effective therapies to patients and address unmet clinical needs."
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. The firm actively partners with ambitious entrepreneurs as a lead or cornerstone investor to develop transformative innovations that have the potential to positively impact our collective future.
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, Sofinnova Partners has over €2.5 billion under management. For more information, please visit: www.sofinnovapartners.com
NanoPhoria is a biotech company based in Milan that is developing a versatile, non-viral drug delivery platform based on inorganic 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. The company, whose four founders have active roles and complimentary backgrounds, is a spin-off from CNR, the largest public research institution in Italy.
SOURCE: Sofinnova Partners