Mitoconix's series A round brings in $20M

Neurodegenerative company Mitoconix Bio Ltd. (Jerusalem, Israel) said it raised $20 million in a series A round led by Remiges Ventures. Also participating were OrbiMed, Dementia Discovery Fund, Arix Bioscience plc (LSE:ARIX), RMGP Biopharma Fund and other undisclosed investors.

Mitoconix' lead candidate, MTC-1203, is in preclinical testing to treat Huntington's disease. It is an inhibitor of mitochondrial fission protein dynamin 1-like (DNM1L; DRP1). CEO Eyal Neria told BioCentury the company plans to begin clinical studies of the candidate in about two years. He said published preclinical data have shown the compound's efficacy in animal models of HD and Parkinson's disease...