AbbVie Ventures is among the backers of a $30m series A round for Disarm Therapeutics, a biotechnology spinout from Washington University in St Louis.
Disarm Therapeutics, a US-based biotechnology developer focused on neurological diseases, raised $30m in a series A round on Tuesday from investors including AbbVie Ventures, the investment arm of pharmaceutical firm AbbVie.
The round was led by Atlas Venture and also included Lightstone Ventures.
Disarm Therapeutics, co-founded, seeded and incubated by Atlas Venture in 2016, is developing treatments for patients suffering from neurological diseases.
The company’s approach aims to inhibit a protein called Sarm1, which has been identified as a driver of axonal degeneration, responsible for disability and disease progression in a wide range of conditions affecting the central, ocular and peripheral nervous system.
The Washington University in St Louis spinout is based on research by Jeffrey Millbrandt, professor of genetics, pathology and immunology, medicine and neurology and chair of the Department of Genetics, and Aaron DiAntonio, professor of developmental biology.
Scott Brun, vice-president, scientific affairs, and head of AbbVie Ventures, has joined the board as an observer. Jean George, general partner at Lightstone, has joined the board of directors.
– This article first appeared on our sister site Global Corporate Venturing.
