Dongkoo Bio&Pharma and D&D Pharmatech both contributed to a series A round for the neurologic disorder drug spinout from Johns Hopkins.
Neuraly, a US-based developer of therapies for neurologic disorders spun out from Johns Hopkins University, disclosed a $36m series A round on Wednesday.
The round featured pharmaceutical company Dongkoo Bio&Pharma and Parkinson’s disease drug developer D&D Pharmatech.
Smilegate Investment, InterVest, LB Investment, Magna Investment, Geon Investment, Octave Life Sciences and Maryland Venture Fund also contributed to the round, which followed $100,000 in debt financing in 2016, according to a securities filing.
Founded in 2016, Neuraly is working on neuroprotective agents intended to treat disorders like Alzheimer’s disease and Parkinson’s disease.
The technology is based on research conducted by founder and interim CEO Seulki Lee, associate professor of radiology at Johns Hopkins School of Medicine.
The spinout plans to advance its lead product candidate, NLY01, which is being developed to prevent neuronal cell death by focusing on a receptor protein called the glucagon-like peptide-1 receptor, into clinical trials later this year.
Lee said: “Currently, there aren’t any treatments that reverse, stop, or even slow neurodegeneration in diseases like Parkinson’s and Alzheimer’s. The treatments that do exist – all symptomatic – provide only temporary improvement in motor and cognitive function, but even these become less effective over time.
“We believe that the science supports NLY01 as a potential disease-modifying therapy capable of slowing the progression of disease.”
– A version of this article first appeared on our sister site, Global Corporate Venturing.
