Yumanity Therapeutics, a Cambridge, Mass.-based developer of drugs for neurodegenerative diseases, raised $45m in Series A funding.
The round was led by Fidelity Management & Research Company with participation from Redmile Group, Alexandria Venture Investments, Biogen, Sanofi-Genzyme BioVentures and Dolby Family Ventures. In conjunction with the financing, John Cox, executive vice president of therapeutic operations, Biogen and Joel Marcus, chairman, chief executive officer and founder, Alexandria Real Estate Equities, Inc./Alexandria Venture Investments, will join Yumanity Therapeutics’ board of directors.
The company intends to use the funds to accelerate efforts to advance its proprietary platforms.
Formed in 2014 by renowned biotech industry leader, Tony Coles, M.D., and protein folding science pioneer, Susan Lindquist, Ph.D., Yumanity Therapeutics develops proprietary platforms aimed at identifying novel therapies to treat neurodegenerative diseases caused by protein misfolding including Alzheimer’s disease, Parkinson’s disease and amyotrophic lateral sclerosis (ALS), also known as Lou Gehrig’s disease.