NovaGo raises $30M Series B to test spinal cord injury drug
What's the deal? NovaGo Therapeutics, a Swiss clinical-stage biotech, has closed a 24 million CHF ($30 million) Series B round. Neurimmune and Pureos BioventuresDealroom has a profile for this one. Try Dealroom → co-led, with existing and new investors joining, plus non-dilutive funding from the Swiss Paraplegic Foundation and Wings for LifeDealroom has a profile for this one. Try Dealroom →.
What's the endgame? NovaGo develops anti-Nogo-A biologics for central nervous system diseases. The money will fund a proof-of-concept study of its lead program in patients with acute spinal cord injury.
The trial is a fully randomised, double-blind study of 120 patients across sites in Germany, Spain, and Switzerland.
Why it matters: Spinal cord injury remains an area of high unmet medical need. No approved regenerative treatment exists to restore lost neurological function.
NovaGo targets the Nogo-A protein, which blocks nerve fibre regeneration and neuroplasticity in the central nervous system, aiming to drive functional recovery.
"We are excited to see the program reach this critical clinical trial milestone, which brings us significantly closer to a much-needed treatment for patients facing the consequences of a spinal cord injury," said professor Martin Schwab, NovaGo's scientific director (translated from French).
Investors pointed to earlier data as the basis for backing the next stage. "We are encouraged by the promising phase 1 results with NG004," said professor Roger M. Nitsch, chief executive officer of Neurimmune and a NovaGo board member (translated from French).
Dominik Escher, managing partner at Pureos Bioventures, said phase 1 progress was "very encouraging" and cited strong interest in offering a regenerative option to patients (translated from French).
The signal: At $30 million, the round sits in the top third of comparable raises, a notable vote of confidence for a field with no approved regenerative therapies. Pairing equity from specialist neuroscience investors with foundation grants shows how capital-intensive CNS bets increasingly blend dilutive and non-dilutive funding to reach the clinic.
Image credit: NovaGo Therapeutics
