Key Highlights
- Progentos Therapeutics launched and closed $65 million Series A round.
- Funding supports MS program through human proof of concept studies.
- Development of first-in-class small molecules for remyelination.
- Investors include Forbion, Alta Partners, Mission BioCapital, Longwood Fund, Dolby Family Ventures.
Source: Business Wire
Notable Quotes
- “While there are many treatments that are highly effective at slowing the progression of disease, there is a significant unmet need for new approaches that can regenerate myelin and restore function for patients with MS,” – Dr. Chris Loose, CEO at Progentos
- “We are truly excited to be part of Progentos’ journey towards delivering potentially disease-modifying drugs for diseases like multiple sclerosis, diseases with high unmet clinical needs,” – Dmitrij Hristodorov, Ph.D., General Partner at Forbion
SoHC's Take
The launch of Progentos Therapeutics and its successful $65 million Series A round is a significant milestone in the biotech industry, particularly for the treatment of Multiple Sclerosis. The company’s innovative approach to remyelination through first-in-class small molecules holds promise for addressing a critical unmet need in MS therapy. The involvement of prominent investors underscores the confidence in Progentos’ scientific and entrepreneurial leadership. As the company advances its MS program into human proof of concept studies, it could potentially revolutionize the standard of care for millions suffering from MS and other demyelinating diseases.
