Scottish biotech firm Mironid secures €39.9 million funding for rare kidney disease treatment development

The Glasgow-based biopharmaceutical company Mironid
, has successfully concluded a €39.9 million ($46 million) Series B funding round to advance its primary drug candidate for Autosomal Dominant Polycystic Kidney Disease (ADPKD) through clinical trials.

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

Neil Wilkie
, the CEO of Mironid, expressed that, “ADPKD is a prevalent hereditary kidney condition affecting over 12 million individuals globally, with half of the patients facing kidney failure by the age of 60. Securing funding from such esteemed backers validates our strategy in treating kidney diseases like ADPKD.”

“This funding will enable us to advance the clinical development of our lead candidate, bringing us closer to revolutionizing the treatment landscape for individuals with rare kidney diseases,” Wilkie added.

Mironid was established in 2015 as a spin-off from the University of Strathclyde and Heriot-Watt University, leveraging over three decades of PDE biology research by Professor Miles Houslay. Headquartered in Glasgow, the company focuses on developing drug candidates for degenerative and rare genetic kidney diseases, as well as major inflammatory diseases and cancer.

The proceeds from the Series B funding will be allocated towards advancing the clinical development of Mironid’s pioneering LoAc small molecule candidate for ADPKD patients. ADPKD is primarily caused by mutations in the PKD1 or PKD2 gene, resulting in the uncontrolled growth of fluid-filled cysts in the kidneys and, in numerous cases, eventual kidney failure.

Mironid’s LoAc molecules are specifically designed to target cyclic AMP (cAMP), a cellular signal active throughout all stages of the disease, driving cell proliferation and fluid secretion within the cysts.

According to the company, preclinical data has demonstrated significant efficacy and a favorable safety profile across disease endpoints, including reductions in cyst number and kidney volume. Mironid posits that by preventing new cyst formation and halting the growth of existing cysts, their cAMP-modulating approach could offer a more enduring treatment option with an improved side-effect profile compared to current therapies.

Beyond ADPKD, Mironid’s pipeline targets phosphodiesterase 4 (PDE4) enzymes, pivotal in cell signaling pathways linked to disease progression. With a seasoned management team, the company operates on a research-and-development-focused model, supported by venture capital and strategic investments, aiming to advance its programs through preclinical and clinical trials towards commercialization.

“Mironid epitomizes Scotland’s increasing reputation for biotech innovation, developing a novel treatment approach that could enhance options for individuals affected by kidney disease. We are delighted to join a dedicated group of investors in supporting the company through this crucial stage of development, facilitating the translation of cutting-edge research into clinical progress, business opportunities, and potential patient benefits,” stated Paul Callaghan, Investment Director at the Scottish National Investment Bank.

This fresh capital follows a previous Series A extension round, bringing Mironid’s total funding since inception to €40.8 million (£35 million).