Nido Biosciences, a clinical-stage company specializing in the development of precision medicines for debilitating neurological diseases, has emerged from stealth mode with the support of a leading investor syndicate and a total funding of $109 million from Seed, Series A, and Series B financings.
Nido Bio was founded through the 4:59 Initiative at 5AM Ventures, and its Series A round was co-led by 5AM Ventures, Abingworth, and Bessemer Venture Partners, with participation from Osage University Partners and Eli Lilly and Company. The Series B round was led by Bioluminescence Ventures, along with additional new investors and existing insiders.
Leveraging advancements in human genetics and disease understanding, Nido Bio aims to develop a sustainable pipeline of novel small molecule medicines that will improve the daily lives of patients suffering from neurological diseases. The company is committed to addressing the fundamental biology of diseases to restore healthy cell function.
One of Nido Bio’s clinical-stage candidates, NIDO-361, is being developed for the treatment of Spinal and Bulbar Muscular Atrophy (SBMA), also known as Kennedy’s disease. SBMA is a rare inherited X-linked neuromuscular disorder that leads to the loss of skeletal muscle and motor neuron function due to a genetic mutation of the androgen receptor (AR). NIDO-361 is a unique small molecule that binds to a specific site on the androgen receptor, correcting transcriptional dysregulation and restoring healthy cell function.
Nido Bio’s additional programs focus on a novel target that has the potential to prevent cell death, reduce protein aggregates, and slow neuroinflammation, offering broad clinical application possibilities for neurodegenerative and peripheral inflammatory diseases. The company is also utilizing a functional genomics discovery platform based on human cell lines to identify novel therapeutic targets for various neuromuscular and neurodegenerative diseases, starting with amyotrophic lateral sclerosis (ALS) and frontotemporal disorders (FTD).
Nido Bio is led by a team of experienced drug developers, biotech leaders, and world-class scientific advisors. Dr. Jeremy Springhorn, with over 30 years of experience in the biotech industry, serves as the CEO of Nido Bio. The company recently appointed Dr. Mike Clayman as an independent Director and Chairman of the Board of Directors. Dr. Clayman brings nearly 35 years of experience in the life sciences industry, including his role as Co-founder, President, and CEO of Flexion Therapeutics.
“Nido Bio’s foundation lies in the belief that human genetics and human tissue-based drug discovery efforts can transform how we develop neurological drugs for patients suffering from devastating diseases,” said Jamil M. Beg, Founding CEO of Nido Bio and Partner at 5AM Ventures. “Since its inception, the company has made significant progress in identifying novel biology, advancing a program into clinical trials, and assembling a world-class team of biotech professionals.”
The impressive scientific advancements, experienced leadership team, and vision to push the boundaries of neuroscience make Nido Bio a promising player in the field of drug development for neurological diseases. The company’s commitment to addressing complex healthcare needs has garnered support and enthusiasm from investors.
With the secured funding, Nido Bio is well-positioned to advance its precision medicines and make significant strides in transforming the lives of patients suffering from neurological diseases.
