Progentos Therapeutics, a biotech company that specialises in the regeneration of myelin and the restoration of function for patients with Multiple Sclerosis (MS) and other demyelinating diseases, has secured $65 million in series A round funding.
Alta Partners, Mission BioCapital, Longwood Fund, and Dolby Family Ventures participated in the round, which was led by Forbion. Progentos Therapeutics will be able to advance its MS programme through human proof of concept studies and expand its pipeline in additional degenerative diseases as a result of this funding.
Read also – [Funding News] CA-based Kudos Secures $10.2Million in Series A Round Funding
Progentos, under the leadership of CEO Dr. Chris Loose, is in the process of creating innovative small molecules that are specifically engineered to stimulate the remyelination of axons that have been impacted by multiple sclerosis. Demyelination, which results in the destruction of the myelin sheaths that facilitate the survival and functionality of axons, is the primary cause of disability in multiple sclerosis.
In in vivo models, the company’s proprietary molecules outperform previous methods in the differentiation of oligodendrocyte progenitor cells (OPCs) to generate new oligodendrocytes and regenerate myelin.
About Progentos
Loose and Sanjay Magavi, a former researcher at Vertex Pharmaceuticals who currently serves as the startup’s chief scientific officer, co-founded Progentos. Magavi served as the vice president of discovery biology at Frequency, which Loose also co-founded. Progentos is currently in the process of creating a novel treatment for multiple sclerosis that activates the body’s inherent repair mechanisms.
