Satori Pharmaceuticals, a US-based developer of therapeutics for Alzheimer’s Disease, secured $15m in funding on Thursday from venture capital firms New Enterprise Associates, Prospect Venture Partners and Interwest Partners. The round represents the culmination of the round, the first tranche of which was secured in January last year, bringing Satori’s overall funding to $40m. Early stage VC investor PureTech Ventures is also among Satori’s prior backers. In addition to the funding, Donald Hayden, an advisor to Prospect Ventures, was elected chairman of Satori’s board of directors while David Schnell of Prospect and Stephen Muniz of PureTech have joined the board. Describing Satori’s plans for the capital, chief executive Jeffrey Ives said: "Today’s announcement demonstrates that Satori is taking the next step in its growth as a company. Until now we have been quietly validating the scientific approach behind our lead compounds – which are orally available, highly selective and what we believe to be the best in the industry pipeline. "This round of funding and the addition of three great advisors in Don, David and Steve position us nicely as we prepare to begin clinical work on those lead compounds."

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