Myrobalan Therapeutics Completes Series A Financing of $24 Million
Myrobalan Therapeutics, a biotechnology company developing novel oral neurorestorative therapies to repair damage and restore neural function in high-unmet need degenerative CNS conditions, have announced completion of a $24 million Series A funding.
Funding was led by Co-win Ventures, with participation from new and existing investors including, Guan Zi Equity Investment (Li Shui) Partnership (Limited Partnership), 3E Bioventures Capital, and AB Magnitude Ventures Group.
“Our deep understanding of remyelination and neuroinflammation has broad application in high-unmet need CNS diseases,” said Dr. Jing Wang, CEO & Co-Founder, Myrobalan Therapeutics. “Propelled by our foundational science, strategic chemistry partnership, compelling preclinical data, and strong investors, Myrobalan is in a unique position to advance its neurorestorative candidates into the clinic.”
Historically, CNS drug development has struggled from a lack of validated target biology, compounded by unique obstacles such as efficient blood-brain barrier penetration and the feasibility of long-term therapy with a convenient and tolerable dosing regimen. Myrobalan has the potential to overcome such obstacles with the development of highly selective, brain-penetrant, orally available compounds against promising novel targets involved in demyelination and neuroinflammation.
These currently untreatable disease mechanisms have been linked to multiple sclerosis (MS), Alzheimer’s disease (AD), amyotrophic lateral sclerosis (ALS), and several rare neurological conditions.
Myrobalan is developing orally available small molecule neurorestorative therapies, including an antagonist to G-protein coupled receptor 17 (GPR17), a central target to promote remyelination; an inhibitor to colony-stimulating factor-1 receptor (CSF1R), which is involved in both demyelination and neuroinflammation; and an allosteric tyrosine kinase 2 (TYK2) inhibitor, to reduce neuroinflammation. Myrobalan plans to address a broad range of neurological conditions through these programs.