A $65 million series A fundraising round was concluded by Progentos Therapeutics, a biotech business located in Watertown, Massachusetts that focuses on helping patients with Multiple Sclerosis (MS) and other demyelinating illnesses regain their function by regenerating their myelin.
Investors
- Forbion
- Alta Partners
- Dolby Family Ventures
- Mission BioCapital
- Longwood Fund
Use of funds
With the help of this finance, the business will be able to extend its pipeline into other degenerative illnesses and push its MS approach via human proof of concept trials.
Progentos plans to operate out of Naarden, The Netherlands, and Watertown, Massachusetts, USA.
About Progentos Therapeutics
Under the direction of CEO Dr. Chris Loose, Progentos is creating cutting-edge tiny molecules that aim to remyelinate MS-affected axons. Demyelination, or destruction to the myelin sheaths that sustain axon survival and function, is the primary cause of impairment in multiple sclerosis. When it comes to differentiating oligodendrocyte progenitor cells (OPCs) to produce new oligodendrocytes and restore myelin in in vivo models, the company’s unique compounds perform better than earlier methods.
