NovaGo Therapeutics AG, a clinical-stage biotechnology company developing anti-Nogo-A biologics for central nervous system diseases and headquartered in Schlieren, Switzerland, has completed a CHF 24 million ($30 million) Series B financing round. The equity funding was led by Neurimmune and Pureos, with participation from existing and new investors. The financing is further strengthened by non-dilutive support from the Swiss Paraplegic Foundation and Wings for Life.
Financing Structure and Backing
The Series B round attracted both existing and new investors, reflecting confidence in NovaGo's scientific direction and clinical momentum. Neurimmune and Pureos served as co-leads for the equity portion of the financing. The additional non-dilutive funding from the Swiss Paraplegic Foundation and Wings for Life provides complementary support for the company's development activities.
Proof-of-Concept Study Plans
Proceeds from the financing will be used to advance NovaGo's lead program into a proof-of-concept study in patients with acute spinal cord injury. The trial is fully randomized and double-blind, enrolling 120 patients across clinical sites in Germany, Spain, and Switzerland. Completion is expected in early 2029, marking a key milestone for the company.
Addressing Unmet Need in Spinal Cord Injury
Spinal cord injury remains an area of high unmet medical need, as no approved regenerative treatments currently exist to restore lost neurological function. Patients and their families often face limited therapeutic options following injury. NovaGo's approach targets Nogo-A, a protein that inhibits nerve fiber regeneration and neuroplasticity, with the goal of enabling meaningful functional recovery.
Scientific Perspective
Prof. Martin Schwab, Chief Scientific Officer of NovaGo Therapeutics, said the program's progression into this critical testing stage brings the field closer to a needed treatment for spinal cord injury. Prof. Roger M. Nitsch, President and CEO of Neurimmune and a NovaGo board member, described the collaboration as pioneering a fully human therapeutic antibody that promotes nerve outgrowth after injury. He also noted that Phase 1 results with NG004 were encouraging and expressed confidence in advancing the program with co-investors.
Investor and Executive Views
Dominik Escher, Managing Partner at Pureos Bioventures, said the firm is pleased to co-lead the round and sees great potential for a new regenerative treatment option. Stefan Moese, Chief Executive Officer of NovaGo Therapeutics, expressed deep gratitude to investors and highlighted the instrumental support from Wings for Life and the Swiss Paraplegic Foundation. Moese added that the commitment allows the company to move forward with the proof-of-concept study and work toward a much-needed therapy.
Strategic Importance of Non-Dilutive Funding
Non-dilutive funding from the Swiss Paraplegic Foundation and Wings for Life plays an important role in reducing financial risk while preserving shareholder value. These organizations bring a patient-focused perspective that aligns with NovaGo's mission to restore function after spinal cord injury. Their involvement underscores the clinical relevance of the program and helps support the trial through milestone-driven development.
Future Outlook
With this Series B financing, NovaGo is positioned to execute a clinical program that could address a major gap in central nervous system care. The alignment of specialized investors, nonprofit organizations, and clinical expertise strengthens the company's ability to complete its planned study. Success in the proof-of-concept trial could validate Nogo-A inhibition as a new regenerative strategy for spinal cord injury.
NovaGo Therapeutics has secured the funding needed to advance a potentially transformative therapy for acute spinal cord injury into late-stage clinical testing. The combination of equity investment and non-dilutive support reflects strong confidence in the Nogo-A approach and the company's execution capabilities. As the proof-of-concept study progresses, NovaGo will be closely watched for evidence that anti-Nogo-A biologics can deliver functional recovery for patients with limited options.