Additional Financing Raised by NeuroPhage
NeuroPhage disclosed in an announcement that it was able to accumulate a US$6.4 million from its round of private equity growth fund. NeuroPhage designed breakthrough therapies for neurodegenerative diseases like Huntington's, Alzheimer's and Parkinson's diseases.
Heading the round of private equity growth fund was Merieux Developpment. Current investors of NeuroPhage also participated together with Shire LLC. The recent finances will be allotted to sustain ongoing studies as well as advance the development of treatments of neurodegenerative diseases.
"We are encouraged by NeuroPhage's progress in further elucidating the mechanism of action of NPT002 and advancing the program toward clinical trials, as well as its discovery of new antibody-like fusion proteins with the potential to broadly address neurodegenerative disease markets with enormous unmet need," according to Dr. Valerie Calenda, Partner at Merieux Developpement.
She added, "We believe the company's transformative approach to addressing protein misfolding could make a major contribution to achieving greatly improved treatments for these disabling conditions that affect millions of people worldwide."