Glasgow-based Mironid, a biopharmaceutical company developing small molecule therapeutics for the treatment of Autosomal Dominant Polycystic Kidney Disease (ADPKD), a life-threatening hereditary kidney disease, has raised $46m (£34m) in Series B funding.
ADPKD is a rare disease and the most common hereditary kidney disorder. Mironid’s first-in-class LoAc small molecules represent the only drug class directly targeting cyclic AMP (cAMP), which is active in all stages of the ADPKD disease process.
Preclinical data from Mironid shows efficacy and a favourable safety profile across all disease endpoints, including a reduction in cyst number and kidney volume.
The Series B funding round was supported by new investor, the Scottish National Investment Bank, and existing investors the Roche Venture Fund, Epidarex Capital, Sofinnova Partners, BioGeneration Ventures and the University of Strathclyde.
The investment will be used to advance the clinical development of the firm’s first-in-class LoAc small molecule for patients with ADPKD.
“ADPKD is the most common hereditary kidney disorder, affecting over 12 million people worldwide, with 50% of patients developing kidney failure by the age of 60,” says Neil Wilkie, CEO at Mironid.
“Securing funding from such a high-calibre syndicate is a strong validator of our approach to treating kidney diseases such as ADPKD. This financing will allow us to progress the clinical development of our lead candidate, bringing us closer to transforming the treatment landscape for patients with rare kidney diseases.”
