Neuraltus Pharmaceuticals, a biotech developing small molecule drugs for neurodegenerative diseases, has wrapped a $17 million Series A round. Co-investing in the Series A funding are Latterell Venture Partners of San Francisco, CA, VantagePoint Venture Partners of San Bruno, CA and Adams Street Partners of Chicago, IL. Menlo Park, CA-based Neuraltus was founded in 2005 by Michael McGrath, MD, PhD, Professor of Laboratory Medicine at the University of California, San Francisco, Edgar Engleman MD, Professor of Medicine and Pathology at Stanford University School of Medicine and Ari Azhir, PhD.
Neuraltus has a number of compounds in the pipeline, including a drug to treat ALS (Amyotropic Lateral Sclerosis, also known as Lou Gehrig's Disease), a drug that will reduce dyskinesia (jerky involuntary movement) in patients suffering from Parkinson's Disease, and a drug for the treatment of Gaucher's Disease (a Lysosomal Storage Disorder). The Series A funding will enable Neuraltus to conduct and complete phase I and phase II clinical trials for each of these disorders.
"We believe Neuraltus has the potential to develop innovative drugs for these intractable diseases," said Annette Bianchi of VantagePoint.
- read the Neuraltus release