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British Business Bank announces £8 million investment into NRG Therapeutics

Press release 08 September 2025

The British Business Bank has announced an £8 million investment into NRG Therapeutics Ltd. (NRG), an innovative neuroscience company targeting a novel mechanism to address mitochondrial dysfunction, as part of a £50m Series B funding round.

The financing was led by SV Health Investors’ Dementia Discovery Fund (DDF), with participation from M Ventures, Novartis Venture Fund, and Criteria Bio Ventures alongside existing investors Omega Funds and Brandon Capital.

NRG Therapeutics is developing novel treatments for severe neurodegenerative conditions, including amyotrophic lateral sclerosis (ALS)/motor neurone disease (MND), and Parkinson’s, and is currently preparing to move into clinical trials following strong pre-clinical data.

NRG has developed a new class of small molecule mitochondrial permeability transition pore (mPTP) inhibitors. The pathological proteins in Parkinson’s and ALS/MND are toxic to mitochondria and contribute to the mitochondrial dysfunction which is a common underlying pathology in neurodegenerative diseases. Inhibition of mPTP opening has been shown to protect mitochondria from this gain-of-function protein toxicity and to preserve neurones in pre-clinical models.

The financing will enable NRG Therapeutics to achieve clinical proof of concept in ALS/MND, while also generating meaningful clinical data in Parkinson’s patients.

NRG’s lead development candidate, NRG5051, is profoundly neuroprotective and significantly reduces neuroinflammation in pre-clinical models of PD and ALS/MND. NRG5051 has completed IND-enabling studies and is on track to enter first-in-human clinical studies in early 2026. 

NRG Therapeutics’ co-founder and CEO Dr Neil Miller 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 ALS/MND and Parkinson’s.

Leandros Kalisperas, Chief Investment Officer at British Business Bank, said, 

We seek to back the best of UK life sciences, helping to turn breakthrough research into world-leading, fully commercial companies. Like many of our life sciences investments, our investment in NRG Therapeutics is especially rewarding because it has the potential to help find a solution to one of the world’s largest healthcare challenges. We look forward to supporting NRG Therapeutics as they continue to take their valuable research forward through trials.

Emma Johnson, Senior Investment Manager, British Business Bank, said, 

We are pleased to join NRG on this next phase of development as they progress their novel therapy with disease-modifying potential into the clinic, making them the 16th life sciences direct investment for BBB and complementing our existing portfolio of breakthrough innovations across the spectrum of UK life sciences.

In association with the Series B raise, Emma Johnson (British Business Bank), Laurence Barker (SV Health Investors), Charlotte Kremers (M Ventures) and Florian Muellershausen (Novartis Venture Fund) will join NRG’s board of directors.

Further Information

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Notes to editors

About the British Business Bank

The British Business Bank is the UK government’s economic development bank. Established in November 2014, its mission is to drive sustainable growth and prosperity across the UK and to enable the transition to a net zero economy, by improving access to finance for smaller businesses. Its remit is to design, deliver and efficiently manage UK-wide smaller business access to finance programmes for the UK government. The British Business Bank’s core programmes support £23bn 1  of finance to almost 64,000 2  smaller businesses.

As well as increasing the supply and diversity of finance for UK smaller businesses through its programmes, the Bank works to raise awareness of finance options available to smaller businesses. The British Business Bank's Business Guidance Library  provides independent and impartial information to businesses about finance options, featuring short films, expert guides, checklists and articles from finance providers to help make their application a success.

The British Business Bank is also responsible for administering the government’s three Coronavirus loan schemes and its Future Fund, together responsible for delivering £80.4bn in finance to 1.67m businesses. These schemes are now closed to new applications.

British Business Bank plc is a public limited company registered in England and Wales, registration number 08616013, registered office at Steel City House, West Street, Sheffield, S1 2GQ. It is a development bank wholly owned by HM Government. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. With the exception of BBB Investment Services Limited they are not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. BBB Investment Services Limited is authorised and regulated by the Financial Conduct Authority. A complete legal structure chart for the group can be found at British Business Bank.

The above investment is operated by British Patient Capital Limited, a wholly owned commercial subsidiary of British Business Bank plc. 

British Patient Capital Limited is registered in England and Wales with company number 11271076, and registered office at Steel City House, West Street, Sheffield, S1 2GQ. British Patient Capital makes commitments and invests on its own behalf and on behalf of third-party investors whose investments British Patient Capital manages.

The transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, the British Business Bank plc, its subsidiaries or any other party in respect of NRG Therapeutics or its products or services. 

About NRG Therapeutics

NRG Therapeutics is a neuroscience drug discovery company building a pipeline of disease-modifying mitochondrial therapeutics to slow or halt the progression of neurodegenerative disorders such as Parkinson’s and amyotrophic lateral sclerosis (ALS), also known as motor neurone disease (MND).

The company’s pre-clinical pipeline of small molecule assets is based on inhibiting the mitochondrial permeability transition pore (mPTP) through a novel mechanism of action. Inhibition of the mPTP has been shown to protect neurones, reduce neuroinflammation and improve motor function in pre-clinical disease models. Its lead asset, NRG5051, has completed IND-enabling studies and is on track to enter the clinic in early 2026.

Based at the Stevenage Bioscience Catalyst (SBC), UK, NRG Therapeutics is a private company with equity investment from Brandon Capital, British Business Bank, Criteria Bio Ventures, Dementia Discovery Fund, M Ventures, Novartis Venture Fund, Omega Funds and Parkinson’s UK. The company has also received awards from Innovate UK (Biomedical Catalyst Award), The Michael J. Fox Foundation, Target ALS and The ALS Association to support its innovative R&D programmes.

Find out more on NRG Therapeutics

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