A biotechnology company that has licensed a drug for the treatment of neurodegenerative disease amyotrophic lateral sclerosis, or Lou Gehrig’s disease, in phase 3 development with Biogen Idec is raising $30 million for financing its product pipeline.
The financing is being done in two tranches of $15 million to help accelerate discovery of next-generation mitochondrial mediators for neurodegenerative disorders and to support near-term clinical development of a novel combination treatment for Parkinson’s disease.
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