Muna Therapeutics debuted with the Danish biotech sector’s biggest-ever Series A round earlier this month. This showcases the rapid growth taking place in the biotech industry in the Nordic region.
Muna Therapeutics’ €62M ($73M) investment was co-led by the Danish investor Novo Holdings through its early-stage arm Novo Seeds. The startup was first set up by Novo last year and merged with the Belgian neurodegenerative disease firm K5 Therapeutics, leading to the launch of Muna’s newest incarnation.
Muna — whose name means ‘to remember’ in Old Norse — has a big focus on treating Alzheimer’s disease. The frequently-debated amyloid hypothesis attributes this complex condition to the buildup of a protein called amyloid-beta in the brain. However, some people with a buildup of amyloid-beta in their brains develop symptoms quickly, while others do not.
According to Muna CEO Rita Balice-Gordon, the firm is investigating the reason for this discrepancy as it could be key to understanding both how the disease progresses and possible mechanisms of resisting the disease.
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