Nuage Therapeutics gains €12 million in seed funding
The IRB Barcelona and the Catalan Institution for Research and Advanced Studies (ICREA in its Catalan acronym) spin-off company, based at the Barcelona Science Park, will use this round of funding to promote its project against resistant prostate cancer and validate its platform for the discovery of intrinsically disordered protein (IDP) modulating drugs. The operation has been led by Sofnova Partners and Asabys and the CDTI “Innvierte” programme and BStartup have also been involved.
Nuage Therapeutics began its activity at the Barcelona Science Park in 2021, founded by researchers Xavier Salvatella, Mateusz Biesaga, Denes Hnisz, and Judit Anido, who is also the CEO of the company. The company focuses on the discovery of new cancer-related IDPs modulating drugs, which were considered unobtainable until now because of their structural properties, by means of a technological platform that takes advantage of the phenomenon of biomolecular condensation.
This €12 M seed round will enable Nuage to promote its main programme, focused on castrate-resistant prostate cancer, the second highest cause of cancer-related death in men. The company also aspires to develop products for other currently untreatable conditions.
“IDPs, which carry out fundamental cellular functions, are involved in numerous human diseases and despite historically having been neglected and considered as ‘undruggable’, are perfect targets, highlights Judit Anido, CEO of Nuage. Our approach has the potential to enable the treatment of a large number of patients with neglected diseases.”
Nuage is Sofinnova Partners’ first investment in Spain. This European venture capital firm in life sciences leads the operation together with Asabys, which has supported the company since its inception in 2021 and has participated through its two Sabadell Asabys and Asabys Top Up Fund vehicles. In addition, “Innvierte”, the CDTI’s investment programme and BStartup are also participating in the operation.
Anido further emphasises, “We are excited to have been able to attract such solid investors, which reinforces our conviction that Nuage could lead the way in addressing IDPs.”
» Link to the news article: Asabys website