Innervace Raises Up to $40M in Series A Funding
Innervace, a NYC-based regenerative medicine company developing an implantable biofabricated neural pathway to restore brain circuitry, raised up to $40 million in Series A financing.
The new round was led by Deerfield Management with participation from founding investor IP Group, Inc., in addition to Penn Medicine, WARF Ventures, and BioAdvance.
The company intends to use the funds to accelerate efforts to develop its lead program, which aims to reconstruct the lost nigrostriatal pathway in patients with Parkinson’s Disease, and enable licensing of a cell source with a specific (A9) dopaminergic phenotype from a research collaboration between UC San Diego and Deerfield Management.
Led by Nader Halim, Ph.D., CEO, 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).
Initially developed by D. Kacy Cullen, Ph.D. and Douglas Smith, M.D. at the University of Pennsylvania’s Perelman School of Medicine, the company’s platform technology is designed to replace or modify brain pathways through the development of anatomically inspired neural pathways.
Innervace is the newest resident of Cure®, a healthcare innovation campus located in New York City.
Innervace Raises Up to $40M in Series A Funding. Congratulations to the entire team. I wish you great success in this endeavour.Shishir Gupta, Founder and CEO, StartupLanes
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