NeuroPhage Pharmaceuticals, Inc., a Cambridge, MA-based biotechnology company focused on a novel approach for disaggregating misfolded proteins for the treatment and prevention of neurodegenerative diseases, has raised $9.0m in Series B-1 round.
Backers included Dr. Michael Grundman, an Alzheimer’s disease clinical expert, President and CEO of the consulting firm Global R& D Partners, LLC, as well as existing investors, including Merieux Developpement, Shire, and private investors.
The proceeds from the financing, which brings the total amount of equity capital raised by NeuroPhage since its inception in 2006 to $28.6m, will be used to advance the company’s novel therapeutic in development for Alzheimer’s disease.
Founded in 2007 by President and CEO Jonathan Solomon, MBA, Chair for Biotechnology of Neurodegenerative Diseases at Tel Aviv University, NeuroPhage is developing a protein disaggregation platform for treatment of neurodegenerative diseases. It recently received Michael J. Fox Foundation Funding for Parkinson’s Disease Research (read here)