Venture Capital: Biopharma Startup Mironid Extends Series A Round, Cumulatively Raising £35M
Mironid is developing small molecule therapeutics for the treatment of Autosomal Dominant Polycystic Kidney Disease (ADPKD), a life-threatening hereditary kidney disease.
Mironid, a biopharmaceutical company headquartered in Glasgow, Scotland, is making significant strides in the development of innovative treatments for Autosomal Dominant Polycystic Kidney Disease (ADPKD), a life-threatening hereditary kidney condition. On September 13, 2023, the company announced an extension of its Series A financing round, securing an impressive total of £35 million in funding to date. This achievement is a testament to Mironid’s promising drug development strategy.
The funding round received a substantial boost from Roche Venture Fund, a new investor joining existing major backers like Epidarex Capital, Sofinnova Partners, BioGeneration Ventures, the University of Strathclyde, Scottish Enterprise, and the European Investment Fund. This collaboration underscores the industry’s recognition of Mironid’s potential to make a meaningful impact in the treatment of ADPKD.
ADPKD is a prevalent rare disease, affecting over 12 million individuals globally, with a significant portion facing kidney failure by the age of 60. Mironid’s pioneering LoAc® small molecules target cyclic AMP (cAMP), a key cellular signal implicated in all stages of ADPKD. Extensive research has shown promising results, including a reduction in cyst number and kidney volume, suggesting potential clinical benefits for all ADPKD patients.
Additionally, this drug class offers the prospect of an improved side-effect profile, addressing a key concern in current therapies.
With this latest funding, Mironid is poised to advance its lead discovery program and expand its patent portfolio. The company’s dedication to combating ADPKD and improving patients’ lives is underscored by its impressive financial backing and the potential of its groundbreaking small molecule therapeutics.
Related Story: Genesis Therapeutics Closes $200M Round To Expand AI-Powered Drug Discovery
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