Myrobalan Therapeutics, a Medford, MA-based biotechnology company developing novel oral neurorestorative therapies, raised $24M in Series A funding.
The round was led by Co-win Ventures, with participation from new and existing investors including Guan Zi Equity Investment (Li Shui) Partnership (Limited Partnership), 3E Bioventures Capital, and AB Magnitude Ventures Group.
The company intends to use the funds to advance its first program into the clinic.
Led by CEO Dr. Jing Wang, Myrobalan is developing orally available small molecule neurorestorative therapies, including an antagonist to G-protein coupled receptor 17 (GPR17), a central target to promote remyelination, an inhibitor to colony-stimulating factor-1 receptor (CSF1R), which is involved in both demyelination and neuroinflammation, and an allosteric tyrosine kinase 2 (TYK2) inhibitor, to reduce neuroinflammation. It plans to address a broad range of neurological conditions through these programs.
Congratulations to Myrobalan Therapeutics on the successful closing of $24M in Series A financing! 🌟💼. Your dedication to advancing healthcare is truly commendable. Wishing you continued success as you progress in your mission to make a significant impact on the medical landscape. Here’s to the next chapter of growth, innovation, and healing! 🚀💰 #MyrobalanTherapeutics #SeriesASuccess #HealthcareInnovation
~ Dr Shishir said Gupta founder & CEO of StartupLanes
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