From Japan to Denmark: Medical Incubator Japan invests in Hoba Therapeutics
This financing round was jointly led by Indaco Venture Partners and Medical Incubator Japan, with contributions from existing investors including Novo Holdings, Eir Ventures, and the Export and Investment Fund of Denmark (EIFO). The Series A financing has reached a first close of EUR 23 million (USD 25 million) in total. Additionally, it includes funding from The European Innovation Council Fund as part of the Accelerator funding program under Horizon Europe.
The funds raised in the Series A first close will enable Hoba Therapeutics to progress HB-086 through late pre-clinical development and into Phase 1 clinical studies in patients suffering from painful Chemotherapy-Induced Peripheral Neuropathy (CIPN). HB-086 is being developed by Hoba Therapeutics for the treatment of chronic neuropathic pain conditions.
Why Medical Incubator Japan chose a Danish company
Their investment portfolio encompasses pharmaceuticals, medical devices, diagnostics, and cutting-edge life science technologies driven by AI. Although their history is relatively concise, they currently manage approximately USD 50 M in assets.
Dr. Kenji Harada, Investment Officer at Medical Incubator Japan, expressed his excitement about the investment in Hoba, a Danish innovation:
“It’s a great honour for us to take a co-lead position in this round. I firmly believe that Hoba Therapeutics’ programs will yield significant positive impacts on pain management and related therapies. This investment in an outstanding Danish company not only signifies our support, but also paves the way for future investments from Japan into Danish and other European biotech companies.”
“We have chosen Denmark because we found it a good innovation centre, and there is strong support from the government and other private companies, including Novo Nordisk. The entire system surrounding the medical sector is wonderful.”