Index Ventures says that Switzerland-base Mind-NRG has opened its doors with a Series A financing of €10 million ($13.8 million). Mind-NRG is developing NRG-101, a peptidic neurotrophic factor that crosses the blood-brain barrier by a receptor-mediated transport to reach its target. The compound was discovered by Germany's ProteoSys, but the company assigned development to Mind in exchange for equity in the new company.
NRG-101 is being explored for neurological and psychiatric disorders such as Parkinson's disease, Alzheimer's disease and schizophrenia. "The preliminary experiments with NRG-101 in relevant pre-clinical models of neurodegeneration show unprecedented results in cognition improvement and restoration of the neural architecture," noted Kings College London and adviser Peter Jenner. Mind-NRG will initially focus on conducting pivotal in vitro and in vivo experiments.
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