Mironid, a Glasgow-based biopharmaceutical company, has closed a €39.9 million ($46 million) Series B financing round to push its lead drug candidate for Autosomal Dominant Polycystic Kidney Disease (ADPKD) through clinical development.
The round was led by Scottish National Investment Bank, which joined a syndicate of existing backers including Roche Venture Fund, Epidarex Capital, Sofinnova Partners, BioGeneration Ventures and the University of Strathclyde.
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 was spun out of the University of Strathclyde and Heriot-Watt University in 2015, building on more than three decades of research into PDE biology by Professor Miles Houslay. The company is headquartered in Glasgow and focuses on developing drug candidates for degenerative and rare genetic kidney diseases, along with major inflammatory diseases and cancer.
Proceeds from the Series B will go toward advancing the clinical development of Mironid’s first-in-class LoAc small molecule candidate for ADPKD patients. ADPKD is a hereditary disorder caused predominantly by mutations in the PKD1 or PKD2 gene, leading to the uncontrolled growth of fluid-filled cysts in the kidneys and, in many cases, eventual kidney failure.
Mironid’s LoAc molecules are designed to directly target cyclic AMP (cAMP), a cellular signal that the company says is active across all stages of the disease, from initiation through to end-stage, and that drives both cell proliferation and fluid secretion within the cysts.
According to the company, preclinical data has shown significant efficacy and a favourable safety profile across disease endpoints, including reductions in cyst number and kidney volume. Mironid argues that by preventing new cyst formation and arresting the growth of existing cysts, its cAMP-modulating approach could offer a more durable treatment option with an improved side-effect profile compared with existing therapies.
Beyond ADPKD, Mironid’s pipeline targets phosphodiesterase 4 (PDE4) enzymes, which play a key role in cell signalling pathways implicated in disease progression. Led by an industry-experienced management team, the company operates on a research-and-development-led model, funded through venture capital and strategic investment, with the long-term goal of advancing its programmes through preclinical and clinical trials toward commercialisation.
“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.
The fresh capital follows an earlier Series A extension round that brought the company’s total funding since inception to €40.8 million (£35 million).