Mironid Raises $46 Mn to Advance Kidney Disease Drug

The round was led by the Scottish National Investment Bank, along with existing investors including Roche Venture Fund, Epidarex Capital, Sofinnova Partners, BioGeneration Ventures, and the University of Strathclyde.

Mironid will use the new funding to move its lead drug candidate for Autosomal Dominant Polycystic Kidney Disease (ADPKD) further through clinical development.

Neil Wilkie, CEO of Mironid, said, “ADPKD is the most common hereditary kidney disorder, affecting over 12 million people worldwide, with 50% of patients developing kidney failure by the age of 60. Securing funding from such a high-calibre syndicate is a strong validator of our approach to treating kidney diseases such as ADPKD.”

“This financing will allow us to progress the clinical development of our lead candidate, bringing us closer to transforming the treatment landscape for patients with rare kidney diseases.”

“Mironid exemplifies Scotland’s growing reputation for biotech innovation, developing a new treatment approach that could improve options for people living with kidney disease. We are pleased to join a committed group of investors to support the company through this critical stage of development, helping it translate world-class research into clinical progress, commercial opportunity and potential patient benefit,” said Paul Callaghan, Investment Director at the Scottish National Investment Bank.

Mironid was founded in 2015 as a spinout from the University of Strathclyde and Heriot-Watt University. The company is based on more than 30 years of research into PDE biology led by Professor Miles Houslay.

Based in Glasgow, Mironid develops potential medicines for rare and degenerative kidney diseases. It also works on treatments for inflammatory diseases and cancer.

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