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
Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.
If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.
You can subscribe to our news posts by entering your email in the box on the right side of this page.
Check out our YouTube channel for insightful content from the Indian startup ecosystem.
Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.
The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.
Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business. For any rectifications, reach out to firstname.lastname@example.org