Neurological disease startup Nido emerged from stealth with $109M funding through a combined Seed, Series A, and Series B fundraiser.
The firm intends to use the proceeds to develop new precision medicines for neurological diseases and further develop its lead asset to treat Kennedy's disease.
- 5AM Ventures, Abingworth, and Bessemer Venture Partners co-led the Series A tranche with participation from Eli Lilly and Osage University Partners.
- The Series B round was led by Bioluminescence Ventures.
- The startup emerged from 5AM Ventures' internal incubator 4:59 Initiative.
- Nido's clinical stage candidate, dubbed NIDO-361, is in phase 1 development to treat patients with spinal and bulbar muscular atrophy, a rare neuromuscular disease also known as Kennedy's disease.
- Phase 1 trials of NIDO-361 commenced in 2022.