21 December 2021 | News
Chord Therapeutics was launched by Omega Funds in October 2020 to develop new oral treatments for rare neuroinflammatory diseases
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Switzerland-based Chord Therapeutics is being acquired by Merck, a leading science and technology company. The strategic acquisition enables Merck to expand its neurology pipeline to develop Chord's lead drug candidate, CRD1 (cladribine), for the treatment of gMG and NMOSD.
Chord Therapeutics was launched in October 2020 by leading healthcare venture capital firm Omega Funds, the sole investor in the company's $16 million Series A financing.
Cladribine is a well characterized molecule that has been extensively studied across multiple sclerosis (MS) and oncologic disorders and has shown promising results in exploratory studies in generalized myasthenia gravis (gMG) and neuromyelitis optica spectrum disorders (NMOSD). Merck plans to leverage its existing capabilities to further develop an oral cladribine product, tailored specifically for those indications.