TLDR:
- Progentos Therapeutics, a biotech company focusing on regenerating myelin for patients with Multiple Sclerosis, closed a $65m Series A funding round.
- The funding will support the advancement of their MS program and expansion of their pipeline in degenerative diseases.
Progentos Therapeutics, based in Watertown, MA, recently announced the closure of a $65 million Series A financing round. The biotech company is dedicated to addressing the need to regenerate myelin and restore function for patients with Multiple Sclerosis (MS) and other demyelinating diseases. The funding round was led by Forbion and included participation from Alta Partners, Mission BioCapital, Longwood Fund, and Dolby Family Ventures.
Dr. Chris Loose, the CEO of Progentos Therapeutics, is leading the development of first-in-class small molecules designed to induce remyelination of axons affected by MS. The company’s molecules have shown promise in differentiating oligodendrocyte progenitor cells (OPCs) to generate new oligodendrocytes and regenerate myelin in in vivo models, outperforming previous approaches.
This funding will enable Progentos Therapeutics to advance its MS program through human proof of concept studies and expand its pipeline to include additional degenerative diseases. The company will operate in Watertown, MA, USA, and Naarden, The Netherlands, positioning itself to make significant advancements in the field of regenerative medicine for neurological disorders.
Overall, the successful Series A financing round marks a significant milestone for Progentos Therapeutics, allowing the company to further its research and development efforts in the pursuit of innovative treatments for patients with MS and other demyelinating diseases.
