Magnolia colours in $31m series A

Aug 14, 2018 • Thierry Heles

Eli Lilly, AbbVie, Pfizer, Johnson & Johnson and WuXi AppTec have all backed neurological disorder drug developer Magnolia Neurosciences at launch.

US-based neuroprotective medicine developer Magnolia Neurosciences launched yesterday with $31m in series A funding from investors including pharmaceutical firms Eli Lilly, AbbVie, Pfizer, Johnson & Johnson and WuXi AppTec.

Alexandria Venture Investments, a subsidiary of real estate investment trust Alexandria Real Estate Equities, also took part, as did 180 Degree Capital, Arch Venture Partners, Innovate NY Fund, Watson Fund and Partnership Fund for New York City.

AbbVie, Pfizer, Johnson & Johnson and WuXi AppTec participated through respective subsidiaries AbbVie Ventures,…

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