Hoba Therapeutics Raises EUR 23M in Series A Funding
Summary
Hoba Therapeutics, a Copenhagen, Denmark-based biotech company dedicated to developing novel therapeutic proteins for patients living with chronic neuropathic pain and hearing loss, raised EUR 23M in Series A funding. The round was led by Indaco Venture Partners and Medical Incubator Japan, and included investments from current investors Novo Holdings, Eir Ventures, and the Export and Investment Fund of Denmark (EIFO). The company intends to use the funds to advance HB-086 through late pre-clinical development to the completion of Phase 1 clinical studies in patients for painful Chemotherapy-Induced Peripheral Neuropathy (CIPN). Led by CEO Torsten M. Madsen, Hoba Therapeutics is a biotech developing restorative treatments for chronic pain disorders and hearing loss. HB-086 is a non-opioid compound with a mechanism of action targeting the peripheral nervous system to reverse neuropathic pain and the underlying cause of the disease.