Innervace Raises $40M Series A Financing
NEW YORK, NY, Innervace, a regenerative medicine company developing the first implantable biofabricated neural pathway to restore brain circuitry, has raised $40 million in a Series A financing.
The new funding led by Deerfield Management with participation from founding investor IP Group, Inc., in addition to Penn Medicine, WARF Ventures, and BioAdvance will accelerate efforts to develop Innervace’s lead program, which aims to reconstruct the lost nigrostriatal pathway in patients with Parkinson’s Disease. Additionally, this round of funding enables licensing of a cell source with a specific (A9) dopaminergic phenotype from a research collaboration between UC San Diego and Deerfield Management. Using these cells and a biofabricated scaffold pathway reconstruction strategy differentiates Innervace’s approach from current cell therapy approaches for Parkinson’s.
Innervace is a regenerative therapy company developing technology that acts as pre-formed, anatomically-inspired, implantable tissue pathways to directly replace lost connections due to brain degeneration or injury. Their lead program mimics the lost nigrostriatal pathway in patients with Parkinson’s disease (PD).
innervace has immense potential to grow. I wish the entire team good luck for their future and may they keep moving up the ladder of success.Shishir Gupta CEO & Founder startupalanes
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