Italian biotech NanoPhoria Bioscience announced that it has raised €83.5 million in Series A financing to support development of its NP-MP1 “lung-to-heart nano-in-micro technology.” The company notes that the €83.5 million funding is the largest ever Series A round for an Italian biotech.
NP-MP1 consists of a mimetic peptide loaded on calcium-phosphate nanoparticles which are then loaded onto mannitol-based microparticles for inhalation. According to NanoPhoria, the funding will go towards continued development of the DPI for the treatment of heart failure with reduced ejection fraction (HFrEF) and towards development of the product for additional indications.
NanoPhoria CEO Claudio De Luca commented, “This financing is a transformational milestone for NanoPhoria. It enables us to accelerate clinical development of NP-MP1 and expand our pipeline. Our innovative delivery platform allows us to target previously inaccessible cellular targets in the cardiomyocyte, thereby bringing us closer to delivering life-changing treatments for patients living with serious cardiac and other chronic conditions who are underserved by existing treatments.”
Read the NanoPhoria press release
