Progentos Therapeutics Launches with $65 Million Funding to Revolutionize MS Treatment.
Progentos Therapeutics, a biotech company focusing on myelin regeneration for Multiple Sclerosis (MS) and other demyelinating diseases, has announced its launch and a successful $65 million series A funding round. This funding will support the advancement of their MS program through human proof of concept studies and expand their pipeline to other degenerative diseases.
Progentos is developing innovative small molecules that induce remyelination of axons impacted by MS. Their proprietary molecules excel in differentiating oligodendrocyte progenitor cells (OPCs) to create new oligodendrocytes and regenerate myelin, surpassing previous approaches in in vivo models. Dr. Chris Loose, CEO of Progentos, highlighted the significant unmet need for therapies that not only slow disease progression but also regenerate myelin and restore function in MS patients. He expressed gratitude for the investor support, emphasizing the potential impact on millions affected by MS and related conditions.
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The series A financing was led by Forbion, a Netherlands-based firm, with participation from Alta Partners, Mission BioCapital, Longwood Fund, and Dolby Family Ventures. Forbion General Partner Dmitrij Hristodorov, Ph.D., expressed enthusiasm about supporting Progentos, praising the company’s leadership and their commitment to developing disease-modifying drugs for conditions with high unmet clinical needs.
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