Chord Therapeutics launches with USD 16 million Series A financing from Omega Funds

Backed by Omega Funds to develop new oral treatments for rare autoimmune diseases. Financing for clinical trial of lead molecule for the treatment of neuromyelitis optica spectrum disorders.

Chord Therapeutics, a clinical stage biopharmaceutical company developing drugs for rare diseases, today announces the closing of a USD16 million Series A financing exclusively from leading healthcare investor Omega Funds. In conjunction with the financing, Omega Funds’ Managing Director Claudio Nessi and Principal Francesco Draetta will join the Board.

Chord Therapeutics is advancing its lead drug candidate, CRD1, a small molecule oral drug for the treatment of neuromyelitis optica spectrum disorders (NMOSD). The financing will allow the company to progress CRD1 through Phase 2 proof of concept clinical development. The potential of CRD1 to address unmet medical needs in rare autoimmune disorders was identified by Chord Therapeutics‘ founder, Dr. Arthur Roach. The Chord team is led by Tom Plitz, previously Chief Scientific Officer of the rare disease company Wilson Therapeutics.

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By Optimum

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