EQT Life Sciences, Droia Ventures, and Sanofi Ventures led the spherical
Financing helps scientific actions for Firm’s two lead packages in ALS and pipeline growth
CAMBRIDGE, Mass., March 9, 2023 /PRNewswire/ — QurAlis Company, a clinical-stage biotechnology firm creating breakthrough precision medicines for amyotrophic lateral sclerosis (ALS) and different neurodegenerative ailments with genetically validated targets, at present introduced it has closed an oversubscribed $88 million Sequence B financing, bringing the whole funds raised to $143.5 million. The financing was led by EQT Life Sciences, investing from the LSP Dementia Fund, Sanofi Ventures, and Droia Ventures, with participation from the ALS Funding Fund and current buyers LS Polaris Innovation Fund, Mission BioCapital, INKEF Capital, Dementia Discovery Fund, Amgen Ventures, MP Healthcare Enterprise Administration, Mitsui International Funding, Dolby Household Ventures, Mission Bay Capital, and Sanford Biosciences.
The proceeds from the financing will fund scientific growth of QRL-201 and QRL-101, the Firm’s lead product candidates in ALS. As well as, the financing will assist ongoing and deliberate analysis, in addition to the development of QurAlis’ pipeline with therapeutic candidates that concentrate on particular elements of ALS and genetically associated frontotemporal dementia (FTD) pathology and outlined ALS affected person populations primarily based on each disease-causing genetic mutation(s) and scientific biomarkers. As a part of the Sequence B financing, Cillian King, Ph.D., managing director at EQT Life Sciences, and Laia Crespo, Ph.D., associate at Sanofi Ventures, will be a part of QurAlis’ board of administrators.
“This financing displays important investor confidence within the science behind QurAlis’ next-generation precision medicines, world-class workforce, and dedication to bringing new therapies to sufferers affected by ALS and different neurodegenerative ailments,” mentioned Anne C. Whitaker, chair of QurAlis’ board of administrators.
“We’re lucky to be funded by this excellent group of buyers who share our dedication to sufferers with neurodegenerative ailments and our imaginative and prescient to halt illness development and considerably enhance outcomes,” mentioned Kasper Roet, Ph.D., CEO and co-founder of QurAlis. “This financing spherical acknowledges our scientific observe document and can assist us advance the scientific growth of our two lead packages in ALS and strong pipeline via near-term value-creating milestones. We’re breaking via the boundaries of science in our quest to convey much-needed precision therapies to sufferers.”
“QurAlis stands out as a pacesetter within the subject of neurodegenerative ailments with its next-generation precision medicines and genetically validated targets,” mentioned Philip Scheltens, M.D., Ph.D., head, EQT Life Sciences’ LSP Dementia Fund. “We’re extraordinarily excited to hitch this distinguished group of buyers supporting this world-class workforce to advance what we consider might grow to be life-changing therapies for sufferers and their households.”
QRL-201 is a first-in-class therapeutic product candidate aiming to revive STMN2 expression in ALS sufferers. STMN2 is a well-validated protein necessary for neural restore and axonal stability, the expression of which is considerably decreased in almost all ALS sufferers. QRL-201 rescues STMN2 lack of operate in QurAlis ALS patient-derived motor neuron illness fashions within the presence of TDP-43 pathology. QRL-201 not too long ago entered the clinic within the first-ever scientific trial to judge a remedy that rescues STMN2 in individuals with ALS (ANQUR; NCT05633459).
QRL-201 is the second program in QurAlis’ pipeline to enter the clinic not too long ago. In December 2022, QurAlis introduced the Firm initiated dosing of QRL-101 in a first-in-human Section 1 scientific trial (NCT05667779). QRL-101 is a first-in-class selective Kv7.2/7.3 ion channel opener for the therapy of hyperexcitability-induced illness development in ALS.
About QurAlis Company
QurAlis is trailblazing the trail to conquering amyotrophic lateral sclerosis (ALS) and different neurodegenerative ailments with genetically validated targets with next-generation precision medicines. QurAlis’ proprietary platforms and distinctive biomarkers allow the design and growth of medication that act straight on disease-causing genetic alterations. Based by an internationally acknowledged workforce of neurodegenerative biologists from Harvard Medical Faculty and Harvard College, QurAlis is advancing a deep pipeline of antisense oligonucleotides and small molecule packages together with addressing sub-forms of ALS that account for almost all of ALS sufferers. For extra info, please go to www.quralis.com or observe us on Twitter @QurAlisCo.