GliaCure Completes $5.8M Series B Financing

GliaCure Inc., a Boston, MA-based developer of novel non-neuronal therapies for a range of neurological and neuropsychiatric disorders, completed a $5.8m Series B financing.

This round was incremental to its initial A round financing of $2.75m in 2012 and included both existing and new investors.

The company intends to use the funds to advance its upcoming Phase 1 clinical trial in Alzheimer’s disease.

Led by director Walter Dewey and Phil Haydon Ph.D., President and co-Founder, GliaCure develops novel therapeutics aimed at treating neurological and neuropsychiatric disorders of the brain. Its lead product candidate GC021109 is a small molecule that has two primary actions downstream of target engagement:
the stimulation of phagocytosis and anti-inflammatory actions in which levels of pro-inflammatory cytokines are reduced. GC021109 is currently being developed primarily as a disease modifying treatment for Alzheimer’s disease and will enter a clinical trial for the disorder in Q3 2014. According to a note, its the dual phagocytic and anti-inflammatory actions have the potential to affect other disorders including psoriasis Parkinson’s disease multiple sclerosis and glaucoma.

FinSMEs

05/08/2014

Join the discussion