Chord launches with $16M to test MS drug cladribine in rare autoimmune disorders

Swiss newco Chord launched with $16 million to develop an established multiple sclerosis drug in orphan autoimmune indications in a deal that reunites Omega Funds with former Wilson CSO Tom Plitz. 

Omega Funds was the sole investor in the series A round for Chord Therapeutics, which is developing a single asset, CRD1, to treat neuromyelitis optica spectrum disorder (NMOSD) and a second orphan indication, myasthenia gravis (MG). CRD1 is an oral formulation of cladribine, a purine nucleoside analog. ...