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[Funding alert] Copenhagen-based Biotech Company Hoba Therapeutics EUR 23M in Series A Round Funding

Hoba Therapeutics, a biotech company located in Copenhagen, has raised EUR 23 million in a series A funding round. Leading the round were Medical Incubator Japan and Indaco Venture Partners. Present investors Novo Holdings, Eir Ventures, and the Export and Investment Fund of Denmark (EIFO) also participated.

Hoba Therapeutics, a biotech company located in Copenhagen, has raised EUR 23 million in a series A funding round. Leading the round were Medical Incubator Japan and Indaco Venture Partners. Present investors Novo Holdings, Eir Ventures, and the Export and Investment Fund of Denmark (EIFO) also participated.

With the money, the company intends to advance HB-086 from late pre-clinical development to the end of Phase 1 clinical trials in patients suffering from excruciating Chemotherapy-Induced Peripheral Neuropathy (CIPN). Hoba Therapeutics is a biotech company led by CEO Torsten M. Madsen that is creating innovative therapies for hearing loss and chronic pain conditions.

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HB-086 is being developed by the business to treat persistent neuropathic pain. HB-086 is a non-opioid substance that acts by correcting neuropathic pain and the underlying cause of the condition by going after the peripheral nervous system.

HB-097, the second medicinal candidate, is a prescription medication used to treat sensorineural hearing loss. Preclinical evidence for HB-097 demonstrates that it has the capacity to reverse damage that has already been caused and prevent hearing loss by shielding nerve cells.

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About Hoba Therapeutics

In 2016, Borean Innovation and Novo Holdings became Hoba Therapeutics. The business was awarded the Grand Solution grant by Innovation Fund Denmark in 2018 and the Accelerator grant by the European Innovation Council in 2021.

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They are a committed group at Hoba Therapeutics with exceptional knowledge of pain and biopharmaceutical development. Their objective is to create innovative biopharmaceuticals for the treatment, mitigation, and prevention of hearing loss and chronic pain.

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