Libra Therapeutics is developing novel therapeutics for neurodegenerative diseases
BETHESDA, MD (US) and EDINBURGH (UK), September 23, 2020 – Epidarex Capital (“Epidarex”), a transatlantic life science venture firm, announces it has co-led the $29 Million Series A financing of Libra Therapeutics, Inc. together with Boehringer Ingelheim Venture Fund (BIVF) and Santé. The investor syndicate also included Yonjin Venture, Dolby Family Ventures and Sixty Degree Capital.
Libra Therapeutics is developing novel drug candidates focused on restoring the cellular balance lost in neurodegenerative diseases. These include amyotrophic lateral sclerosis (ALS) and frontotemporal dementia (FTD), which are both characterized by disequilibrium caused by the production and decreased clearance of neurotoxic proteins.
“We are delighted to have played a key role in the creation and funding of Libra Therapeutics as well as co-leading the financing. The science behind the company is outstanding and has enabled the recruitment of a highly experienced executive and an exceptional international investor syndicate,” said Henning Steinhagen, Ph.D., Venture Partner, Epidarex Capital. “By bringing together these key components, Libra Therapeutics has a highly differentiated platform to generate novel therapies that aim to improve the lives of patients with neurodegenerative diseases.”
Libra Therapeutics was founded on breakthrough science generated by Axxam S.p.A., a leading discovery research organization, which provides Libra Therapeutics novel and proprietary chemical matter, cutting edge and exclusive assays, and robust drug discovery expertise. The financing proceeds will be used primarily to build the team and advance a pipeline of novel small molecule drug candidates for the treatment of neurodegenerative diseases.
The press release from Libra Therapeutics can be found at: www.libratherapeutics.com
About Libra Therapeutics
Libra Therapeutics is a biotechnology company focused on developing novel disease-modifying therapeutics that can restore the cellular balance disrupted in neurodegenerative diseases. The company is advancing three distinct and novel preclinical small molecule programs designed to increase autophagy and decrease production of neurotoxic protein aggregates. Libra Therapeutics was founded to capitalize on proprietary technologies and therapeutic assets from Axxam, a leading discovery research company. The company is based in San Diego. To connect with the company, visit www.libratherapeutics.com.
About Epidarex Capital
Epidarex Capital is a transatlantic venture capital firm with a track record of building exceptional life science companies in emerging hubs in the US and UK. Epidarex’s experienced team of early stage investors partner with entrepreneurs and leading research institutions to transform world-class science into highly innovative products addressing major unmet needs in the global healthcare market. For more information, visit www.epidarex.com.