Mind-NRG

About Mind-NRG

Mind-NRG SA was a Swiss-based biotechnology company established in 2010 with a focus on developing treatments for psychiatric and neurological diseases. The company's primary undertaking was the development of NRG-101, a peptidic neurotrophic factor designed to cross the blood-brain barrier and address conditions such as Parkinson's disease, Alzheimer's disease, and schizophrenia. This compound, discovered by Germany's ProteoSys, aimed to offer disease-modifying potential by targeting multiple mechanisms of neurodegenerative diseases.

The company's establishment was marked by a significant Series A financing round of €10 million ($13.8 million) from Index Ventures in October 2010. This initial funding was critical for conducting pivotal in vitro and in vivo experiments. Subsequently, in September 2013, Mind-NRG secured an additional €6 million (~$8 million) in a Series B financing round. This round was led by a new investor, LRM, a Belgian-based firm specializing in Life Sciences, with continued participation from Index Ventures. The capital was intended to further investigate the neuroprotective effects of NRG-101 in Parkinson's disease, with the goal of advancing the compound to proof-of-concept studies in patients. Over its lifetime, the company raised a total of approximately $21.8 million.

Operationally, Mind-NRG was headquartered in Geneva, Switzerland. Following the Series B funding, Debora Dumont, Head of Health & Care at LRM, joined the board of directors. On February 11, 2014, Mind-NRG was acquired by Minerva Neurosciences for $16.5 million. This acquisition marked the conclusion of Mind-NRG's journey as a venture-backed startup in the drug discovery sector.