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ARTICLE | Financial News

Neuraly raises $36M series A to develop microglia-targeted PD candidate

July 20, 2018 5:59 PM UTC

Neurodegeneration company Neuraly Inc. (Germantown, Md.) launched July 18 with a tranched $36 million series A round led by new investor D&D Pharmatech (Gyeonggi-do, Korea). Korean venture funds Smilegate, InterVest, LB Investment, Magna Investment, Geon Investment and Dongkoo Bio&Pharma joined fellow new investors Octave Life Sciences and Maryland Venture Fund in the round.

Neuraly's lead compound, NLY01, is a long-acting analog of undisclosed glucagon-like peptide-1 receptor (GLP-1R; GLP1R) agonists. The company, which is developing the candidate for neurodegenerative diseases including Parkinson's disease and Alzheimer's disease, expects to start Phase I testing this year...