Mironid, a Glasgow-based biopharmaceutical company, has raised £34m in a Series B funding round that includes an £8.4m equity investment from the Scottish National Investment Bank. The Bank joins existing investors Roche Venture Fund, Epidarex Capital, Sofinnova Partners, BioGeneration Ventures, and the University of Strathclyde.
Autosomal Dominant Polycystic Kidney Disease is one of the more prevalent rare diseases and the most common hereditary kidney disorder, yet treatment options remain limited. The condition is characterised by uncontrolled growth of fluid-filled cysts, and Mironid's first-in-class small molecule LoAc drug candidates directly target the abnormally high kidney cAMP levels that drive cyst formation. ADPKD affects over 12 million people worldwide, with 50% of patients developing kidney failure by the age of 60.
Founded through a collaboration involving the University of Strathclyde and Heriot-Watt University, Mironid has progressed a series of drug development programmes under CEO Neil Wilkie that target specific enzymes to generate novel and differentiated therapies for a range of diseases with high unmet medical need.
The capital will support clinical development of Mironid's small molecule therapeutics for the treatment of ADPKD, taking its lead candidate forward.
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-caliber 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.
Our investment in Mironid reflects our commitment to backing impactful Scottish businesses with high-growth potential. 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.
