SOUTH SAN FRANCISCO, Calif., Dec. 16, 2020 /PRNewswire/ — Neuron23™ Inc., an early stage biotechnology firm targeted on growing precision medicines for genetically outlined neurological and immunological illnesses, right now introduced its launch backed by a mixed $113.5 million Sequence A and B financing. The funding was comprised of $33.5 million Sequence A financing from Westlake Village BioPartners and Kleiner Perkins, and $80 million Sequence B financing led by Redmile Group. Extra Sequence B traders included Westlake Village BioPartners, Kleiner Perkins, Cowen Healthcare Investments, Acorn Bioventures, HBM Companions, Perceptive Advisors, and Surveyor Capital (a Citadel firm). Neuron23 was based by an modern partnership with German biotechnology firm, Origenis GmbH.
Proceeds from the financing shall be used to speed up the event of Neuron23’s pipeline and develop its state-of-the-art synthetic intelligence (AI)-enabled drug discovery and biomarker platforms for figuring out therapeutics for devastating neurodegenerative illnesses together with Parkinson’s illness, neuroinflammatory illnesses reminiscent of a number of sclerosis, and systemic autoimmune and inflammatory illnesses. Particularly, the spherical will permit the corporate to advance two-to-three current growth candidates into the clinic within the subsequent 24 months, and to bolster its platform to establish genetic signatures of sufferers almost definitely to reply to the event candidates. Inside every program, the potential exists to handle a number of central nervous system (CNS) and systemic illnesses, creating “pipeline inside a product” alternatives. Proceeds from the financing will even help expertise recruitment, expertise growth, and mental property (IP) enlargement and safety.
“We’re happy to have such sturdy help from this syndicate of blue-chip traders who acknowledge our potential to construct a brand new kind of precision drugs firm,” stated Nancy Stagliano, PhD, CEO and Board Chair, Neuron23. “Neuron23’s method can revolutionize how we deal with genetically outlined neurological and inflammatory illnesses, thus considerably enhancing sufferers’ lives. Our workforce of completed entrepreneurs, scientists, and clinicians, with vital expertise in drug discovery and growth, is poised to harness the newest applied sciences in AI, human genetics, and medicinal chemistry to streamline the supply of the best medicines to each genetically outlined sufferers and the broader group.”
Neuron23 is advancing a number of therapeutics addressing genetically validated targets, with lead applications in opposition to leucine-rich repeat kinase 2 (LRRK2), a gene related to Parkinson’s illness and systemic inflammatory illnesses, and tyrosine kinase 2 (TYK2), a JAK household protein that performs a task in pathological immune signaling. The prioritization of LRRK2 and TYK2 permits the corporate to highlight its foundational strengths in chemistry, biology, human genetics, and AI.
Beth Seidenberg, MD, co-founding managing director of Westlake Village BioPartners and a companion at Kleiner Perkins, led the Sequence A spherical and took part within the Sequence B spherical.
“Neuron23 has large potential to usher within the subsequent step-change in treating genetically outlined neurological and immunological illnesses, and the caliber of the traders in our syndicate speaks to the joy round Neuron23 and its future,” Dr. Seidenberg stated. “Dr. Stagliano brings vital experience in neuroscience and a confirmed capacity constructing high-performing firms, having beforehand served as CEO of True North Therapeutics, iPierian, and CytomX Therapeutics. With Dr. Stagliano on the helm, we’re properly positioned for various financing situations sooner or later, together with extra non-public capital, accessing the general public markets, or partnering with Large Pharma.”
Neuron23 has been working in stealth mode since its founding in October 2018 by neurogeneticist and Chief Enterprise Officer Adam Knight, PhD, together with Origenis GmbH, and Kleiner Perkins.
“Our partnership with Origenis provides us vital aggressive benefits over conventional drug discovery approaches, together with excessive throughput capabilities to establish scores of potent, selective, and brain-penetrant molecules for every goal,” stated Dr. Knight.
In reference to the Sequence A and B rounds, Beth Seidenberg, Amrit Nagpal (Redmile Group), Kevin Raidy (Cowen Healthcare Investments), Michael Almstetter (Origenis), and Nancy Stagliano serve on the Board of Administrators.
Westlake Village BioPartners not too long ago launched two funds totaling $500 million and launched a brand new biopharma firm, ACELYRIN. Westlake’s funding within the Sequence B spherical for Neuron23 got here from its Alternative 1 fund, one of many new funds launched and designed to take a position extra capital into firms they incubated that present promise. “We’re doubling down on Neuron23,” added Dr. Seidenberg.
Neuron23™ Inc. is an early stage biotechnology firm targeted on growing precision medicines for genetically outlined neurological and immunological illnesses. Neuron23 leverages current advances in human genetics, mixed with their state-of-the-art synthetic intelligence (AI)-enabled drug discovery and biomarker platforms, to advance therapeutics for devastating illnesses. The Firm’s focus areas are neurodegenerative illnesses, neuroinflammatory illnesses, and systemic autoimmune and inflammatory illnesses. Based in 2018, Neuron23 has assembled a world-class workforce of consultants and entrepreneurs situated in South San Francisco, CA, and Munich, Germany. For extra data, please go to www.neuron23.com.
About Origenis GmbH
Origenis GmbH is a privately held German biopharmaceutical firm growing brain-penetrating extremely selective small molecule medicines and diagnostics for quite a lot of neurodegenerative and neuroinflammatory illnesses. Origenis leverages its distinctive capabilities in drug design, compound synthesis, and characterization to engineer a steady stream of proprietary mental property (IP)-protected new chemical entities able to permeating the blood-brain barrier. Origenis’ method has been validated by a number of companions leading to a major IP and R&D portfolio that ensures sturdy patent safety. For extra data, go to www.origenis.com.
About Westlake Village BioPartners
Westlake Village BioPartners is a Los Angeles area-based enterprise capital agency targeted on incubating and constructing life sciences firms with entrepreneurs who’ve the potential to convey transformative therapies and applied sciences to sufferers. Westlake manages extra early stage enterprise capital solely from the better Los Angeles space than another agency. The Westlake mannequin is constructed on the founding workforce’s distinctive expertise in efficiently figuring out and growing breakthrough therapies and constructing organizations, primarily based on their in depth R&D expertise. For extra data, please go to www.westlakebio.com.