NEUWAY Receives €2.95 Million BMBF Grant for Advancing CNS Drug Delivery Platform

• Grant secures execution of work packages necessary to further validate NEUWAY`s central nervous system (CNS) Drug Delivery Platform for a diverse set of active pharmaceutical substances

• Grant also allows NEUWAY to set-up good manufacturing practice (GMP) production and preparing clinical Phase I study

Bonn, June 07, 2016 - NEUWAY Pharma GmbH, a biopharmaceutical company developing drugs for the treatment of severe orphan CNS diseases, announced today the successful acquisition of non-dilutive funding of € 2.95 Million from Germany`s Federal Ministry of Education and Research (BMBF, 13N13469). NEUWAY will use the proceeds to apply its proprietary technology for the passage of the blood-brain barrier by engineered protein capsules to various active pharmaceutical substances with the ultimate goal to facilitate their use in the treatment of brain diseases.
Dr. Heiko Manninga, Chief Scientific Officer (CSO) and Managing Director of NEUWAY Pharma commented, “This grant plays an important role in the further development of NEUWAY´s CNS Drug Delivery Platform up to the qualification of at least one compound for clinical development. We are very happy that we received this significant grant, which, along with the recently concluded extension of the series A round of € 3.1 million, supports us to broaden the scientific basis of our CNS Drug Delivery Platform enabling its application to different substance classes.”

NEUWAY Pharma uses its CNS Drug Delivery Platform in creating its own projects for the treatment of severe orphan brain diseases with high medical need. NEUWAY Pharma also leverages the great potential of its CNS Drug Delivery Platform in initiating partnerships with pharmaceutical companies.

NEUWAY Pharma GmbH, Bonn, Germany, is focusing on the preclinical and clinical development of innovative therapeutics for treatment of severe orphan brain diseases based on its proprietary CNS Drug Delivery Platform. The company also intends to partner its drug delivery technology for application to proprietary compounds of pharmaceutical companies to exploit their therapeutic use in the field of CNS indications. In addition, NEUWAY initiated the development of a vaccine to treat a rare but frequently fatal neurological disease called progressive multifocal leucoencephalopathy (PML).

NEUWAY was founded in April 2014 as the first spin-off from Life Science Inkubator GmbH, Bonn, Germany, where it was nurtured for 4 years and supported with approximately € 2.3 million in research funding by the Federal Ministry of Education and Research (BMBF). The company closed a series A financing round in May 2014 with a volume of € 2.7 million provided by a syndicate led by Wellington Partners. Funding was extended to a total of € 5.85 million in Oct. 2015 with an additional contribution of € 2.0 million by the lead investor. Life Science Inkubator, Kreditanstalt für Wiederaufbau (KfW) and several private shareholders also participated in the financing rounds.

NEUWAY Pharma GmbH
Ludwig-Erhard-Allee 2
53175 Bonn
Press Contact:
Christine Kuhn, +49-(0)228-522198-15, kuhn@neuway.de
www.neuway-pharma.de

This release was published on openPR.