Satori Pharmaceuticals, a Cambridge, MA-based developer of therapeutics for Alzheimer’s disease (AD), has raised an additional $15m in financing.
Backers include existing investors InterWest Partners, New Enterprise Associates Inc. (NEA) and Prospect Venture Partners.
The company also said that Donald Hayden was appointed as Chairman of the Board of Directors. Dr. David Schnell of Prospect Ventures and Stephen Muniz of PureTech Ventures have joined Satori’s Board.
Led by CEO Dr. Jeffrey Ives, and CBO Jeff Jonker, Satori is advancing medicines that aim to slow or stop Alzheimer’s disease progression.
Alzheimer’s disease is characterized by the formation of amyloid beta plaques in the brain, which are primarily composed of two main forms of amyloid beta: AB40 and AB42. The company’s program aims to reduce the amount of AB42 in the brain by modulating gamma-secretase, thus lowering brain amyloid, plaque formation and associated damage to normal neuronal function.
Satori intends to file an IND on the lead modulator of gamma-secretase in 2012.