Libra Therapeutics, Inc., a San Diego, CA-based developer of novel drug candidates focused on restoring the cellular balance lost in neurodegenerative diseases, secured $29m in Series A financing.
The round was co-led by Boehringer Ingelheim Venture Fund (BIVF), Epidarex Capital, and Santé, joined by Yonjin Venture, Dolby Family Ventures, and Sixty Degree Capital.
The financing proceeds will be used primarily to build the team and advance a pipeline of novel small molecule drug candidates for the treatment of neurodegenerative diseases.
Led by Isaac Veinbergs, Ph.D., President and CEO, Libra Therapeutics was founded on breakthrough science generated by Axxam S.p.A., a discovery research organization, which provides Libra Therapeutics novel and proprietary chemical matter, cutting edge and exclusive assays, and robust drug discovery expertise.
The company’s therapeutic platform is positioned to discover and develop novel small molecule drugs that can both increase autophagy to more rapidly clear toxic proteins and attenuate the production of neurotoxic proteins.