BioCentury
ARTICLE | Financial News

Mitoconix raises $20M in series A

July 6, 2017 6:28 PM UTC

On June 27, neurodegenerative company Mitoconix Bio Ltd. (Jerusalem, Israel) 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 (HD). CEO Eyal Neria told BioCentury the company plans to begin clinical studies of the inhibitor of mitochondrial fission protein dynamin 1-like (DNM1L; DRP1) in about two years. He said published preclinical data have shown the compound's efficacy in animal models of HD and Parkinson's disease (PD)...