Lysosomal Therapeutics Inc. (LTI), a Cambridge, Mass.-based developer of novel small molecules for use in the treatment of neurodegenerative diseases, raised $20m in Series A financing.
Backers included existing investors Atlas Venture, Hatteras Venture Partners, Lilly Ventures, Sanofi-Genzyme BioVentures, Roche Venture Fund, Partners Innovation Fund and several original angel investors Orion Equity Partners, LLC, and LTI co-founders Henri Termeer and Bob Carpenter.
Led by founding president and chief executive officer Kees Been and newly hired vice president of business development Darren Braccia, Lysosomal Therapeutics focuses on small-molecule research and development in the field of neurodegeneration.
The company intends to use the proceeds:
– for ongoing compound optimization and preclinical development of a glucocerebrosidase (GCase) lysosomal enzyme activator candidate for the treatment of Parkinson’s disease,
– for support of a biomarker initiative, for which LTI has previously received grant funding from The Michael J. Fox Foundation for Parkinson’s Research, and
– for starting new research programs based on the genetic links that exist between other lysosomal storage disorders and neurodegenerative diseases.