NeuroPhage Pharmaceuticals, Inc., a Cambridge, MA-based biotechnology company developing a protein disaggregation platform for treatment of neurodegenerative diseases, has secured $12.4m in Series B financing.
The round, which was led by MerieuxDeveloppement, with participation from new investor Shire LLC and existing investors, has brought the total amount raised by the company to date to $19.6m.
The company intends to use the funds to prepare a Phase 1 clinical trial for NPT001, its lead product candidate for the treatment of Alzheimer’s disease, and further work to expand the platform.
In conjunction with the financing, Dr. Valerie Calenda, partner at MerieuxDeveloppement, will join NeuroPhage’s Board of Directors. Dr. Michael Heartlein, Vice President, Research at Shire Human Genetic Therapies, will be a Board observer.
The company was founded in 2007 by a Cambridge-based team, together with Professor Beka Solomon, Chair for Biotechnology of Neurodegenerative Diseases at Tel Aviv University.