NRG Therapeutics Ltd, a neuroscience company developing treatments targeting mitochondrial dysfunction, has closed an oversubscribed £50m ($67m) Series B financing.

The round was led by SV Health Investors’ Dementia Discovery Fund, alongside new investors British Business Bank, M Ventures, Novartis Venture Fund, and Criteria Bio Ventures, as well as existing investors Omega Funds and Brandon Capital. Founding investor Parkinson’s UK via its drug development arm the Parkinson’s Virtual Biotech remains active.

The funding will support clinical proof of concept in amyotrophic lateral sclerosis (ALS)/motor neurone disease (MND) with NRG5051, a first-in-class, oral inhibitor of the mitochondrial permeability transition pore (mPTP), while generating clinical data in Parkinson’s patients through a Phase 1b study.

NRG5051 has demonstrated neuroprotective effects and reduced neuroinflammation in pre-clinical models of Parkinson’s and ALS/MND. IND-enabling studies are complete, with first-in-human trials expected in early 2026.

Neil Miller, co-founder and CEO of NRG Therapeutics, said, “I am delighted to welcome our new investors and thank our current investors for their unwavering support. Developing new drugs to treat neurological diseases is very challenging but is receiving increased interest given the high unmet medical need and growing prevalence in aging populations. These new funds provide the runway to advance our lead programme through PoC in ALS/MND, and to develop our portfolio of small molecule candidate drugs for other indications including Parkinson’s, offering new hope to the growing number of people and their families impacted by neurodegenerative disorders.”

NRG has identified a regulator of the mPTP essential for pore opening, enabling development of a new class of brain-penetrant small molecule inhibitors designed for oral administration. Dysfunctional mitochondria contribute to neuron loss in Parkinson’s and ALS/MND, and inhibition of mPTP opening has shown neuroprotective effects in pre-clinical models.

Laurence Barker, partner leading DDF at SV Health Investors, said, “The strength and breadth of NRG’s pre-clinical data gives us real confidence that NRG’s approach could halt or significantly slow disease progression across multiple neurodegenerative diseases. We are excited that NRG’s lead drug candidate has the potential to be the first disease-modifying therapeutic for sporadic ALS/MND and dementia indications such as Parkinson’s.”

Francesco Draetta, managing partner at Omega Funds, added, “NRG has made incredible progress over the past three years. Not only has it developed an impressive pre-clinical data package and completed IND-enabling studies with its lead asset, but it has also advanced further its understanding of the biology of mitochondrial dysfunction in neurodegenerative diseases and the mode of action of its novel target that prevents opening of the mPTP channel. We look forward to working with our co-investors to support NRG as it transitions into a clinical stage company.”

Parkinson’s is a fast-growing neurodegenerative condition with prevalence expected to double by 2050. Current treatments provide only temporary symptomatic relief. ALS/MND is a rare, rapidly progressing disease with high unmet medical need.

As part of the Series B, Laurence Barker, Emma Johnson (British Business Bank), Charlotte Kremers (M Ventures), and Florian Muellershausen (Novartis Venture Fund) will join NRG’s board of directors. Professor David Dexter, director of research at Parkinson’s UK, has been appointed as a special advisor on Parkinson’s.