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MODAG raises €12M series A to test approach to neurodegeneration

June 27, 2019 9:15 AM UTC

Six years after its formation, neurodegeneration company MODAG hopes to use its new €12 million ($13.7 million) series A round to test its disease-modifying approach to a rare Parkinsonian disorder via the company's first clinical study.

Based on research conducted at the University of Munich and the Max Planck Institute for Biophysical Chemistry, MODAG GmbH (Wendelsheim, Germany) has designed lead molecule anle138b to bind specifically with toxic oligomeric structures of α-synuclein. The company believes the molecule can break down the pathological structures into smaller, non-toxic oligomers and monomers, and thus halt disease progression in patients with multiple system atrophy (MSA)...