NRG Therapeutics Raises £50m led by Dementia Discovery Fund and Novartis Venture Fund
This article covers the Series B funding round on 8 September 2025 for NRG Therapeutics, a Stevenage-based neuroscience company targeting a novel mechanism to address mitochondrial dysfunction, founded by Richard Rutter and Neil Miller. It raised £50m in a round led by Health Investors' Dementia Discovery Fund, alongside British Business Bank.
What does NRG Therapeutics do?
NRG5051 is an oral inhibitor of the mitochondrial permeability transition pore (mPTP). It is intended to protect neurones and limit cell death in ALS and related disorders.
Why is NRG Therapeutics useful?
Problem
Patients with neurodegenerative diseases face mitochondrial dysfunction caused by the mitochondrial permeability transition pore. This leads to neuroinflammation, neurone loss and progressive motor decline in conditions like ALS/MND and Parkinson’s.
Solution
NRG Therapeutics helps by developing NRG5051, an oral inhibitor of the mitochondrial permeability transition pore. By inhibiting the mPTP, it aims to protect neurones, reduce inflammation and slow disease progression.
How much did NRG Therapeutics raise?
NRG Therapeutics raised £50m in a Series B led by Health Investors’ Dementia Discovery Fund, with participation from British Business Bank alongside existing backers.
Who invested in NRG Therapeutics?
Key investors in the company include the following.
- Health Investors’ Dementia Discovery Fund: a fund specialising in dementia research and translational neurodegeneration programmes, known for backing early clinical-stage projects.
- British Business Bank: the UK government-backed development bank that supports smaller businesses with capital and programmes to strengthen domestic innovation.
- M Ventures: the corporate venture arm of Merck KGaA, investing globally in life sciences innovation.
- Novartis Venture Fund: Novartis's corporate VC, focused on advancing translational medicines and bringing industry expertise to portfolio companies.
- Criteria Bio Ventures: a life-science investor concentrating on early-stage biotech across Europe, offering operational support to founders.
- Omega Funds: an existing investor with a strong track record in biotech financing and drug-development ventures.
- Brandon Capital: a specialist life-sciences investor experienced in clinical and translational neuroscience opportunities.
If you're researching potential backers in this space:
- Explore our list of biotech venture capital firms in the UK
- Browse our directory of biotech angel investors in the UK
Who founded NRG Therapeutics?
Neil Miller is the CEO of NRG Therapeutics.
Where is NRG Therapeutics based?
NRG Therapeutics is based in Stevenage, UK.
What sector is NRG Therapeutics in?
NRG Therapeutics operates in the neuroscience sector. Neuroscience involves studying the brain and nervous system to understand and treat neurological disorders. It aims to develop medicines that protect nerve cells and improve patients' lives.
Key trends and challenges in neurodegenerative disease therapeutics:
Increasing focus on mitochondrial targets
Researchers are targeting mitochondrial dysfunction, for example mPTP inhibitors, to slow neuronal loss.
More biomarker-driven trials and patient stratification
Blood and imaging biomarkers like plasma p-tau and amyloid PET are used to select patients and measure effects.
High clinical failure rates and trial challenges
Many late stage neurodegenerative trials fail because of disease heterogeneity and blood brain barrier delivery issues.
For a deeper look at innovation in this space, see the biotech startups in the UK.
They've invested in NRG Therapeutics
Get to know these biotech investors
| Investors | Investment Focus | Startup Investments | Round Size | Connect |
|---|---|---|---|---|
 Health Investors’ Dementia Discovery Fund( ) London  | ||||
 British Business Bank( ) The British Business Bank focuses on enhancing finance accessibility for smaller... Sheffield | ||||
 M Ventures( ) M Ventures is the strategic corporate venture capital fund of Merck, focusing on... Amsterdam, Netherlands | ||||
 Novartis Venture Fund( ) Novartis is a global pharmaceutical company headquartered in Switzerland, known ... Basel, Switzerland  | ||||
 Criteria Bio Ventures( ) Basel, Switzerland | ||||
 Omega Funds( ) This venture capital firm specialises in investing in exceptional founders and i... Boston, US  | ||||
 Brandon Capital( ) Brandon Capital Partners is focused on investing in early-stage and expansion-st... London | ||||
| All investors | All investor sectors | All funded startups | All funding rounds |
Click here for a full list of 7,589+ startup investors in the UK