Myrobalan Raises $24 Million to Develop CNS Therapeutics with Restorative Potential
January 10, 2024
Rare Daily Staff
Myrobalan Therapeutics, a company developing novel oral neurorestorative therapies to repair damage and restore neural function in high-unmet need degenerative central nervous system conditions, raised $24 million in a series A funding round.
Co-win Ventures led the financing, with participation from new and existing investors including, Guan Zi Equity Investment (Li Shui) Partnership, 3E Bioventures Capital, and AB Magnitude Ventures Group.
Historically, CNS drug development has struggled from a lack of validated target biology, compounded by obstacles such as efficient blood-brain barrier penetration and the feasibility of long-term therapy with a convenient and tolerable dosing regimen. Myrobalan has the potential to overcome such obstacles with the development of highly selective, brain-penetrant, orally available compounds against promising novel targets involved in demyelination and neuroinflammation.
These currently untreatable disease mechanisms have been linked to multiple sclerosis, Alzheimer’s disease, amyotrophic lateral sclerosis, and several rare neurological conditions.
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. The company plans to address a broad range of neurological conditions through these programs.
“Our deep understanding of remyelination and neuroinflammation has broad application in high-unmet need CNS diseases,” said Jing Wang, CEO and co-founder, Myrobalan Therapeutics.
Myrobalan is led by a team with significant research and business experience. Wang co-founded the company in 2021 alongside Zhigang He, professor of neurology and ophthalmology, Harvard Medical School, member of the National Academy of Medicine, and Guoping Feng, Poitras Chair professor of neuroscience in the McGovern Institute for Brain Research at MIT, Institute member of the Broad Institute of MIT and Harvard, and member of the National Academy of Medicine. Wang has held executive and leadership roles in neuroscience and oncology drug development at Curis, Tesaro/GSK, and Constellation Pharmaceuticals, and successfully led multiple programs at various stages of development from discovery through commercialization.
Photo: Jing Wang, CEO and co-founder, Myrobalan Therapeutics
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