WORCESTER—Leal Therapeutics, a biotech company focused on creating treatments for central nervous system (CNS) disorders, secured $45 million in financing, the company recently announced.
Led by Newpath Partners and joined by Chugai Venture Fund, Alexandria Venture Investments, and existing backers like OrbiMed, Euclidean Capital, and PhiFund, the funds further Leal’s work on innovative therapies targeting ALS and schizophrenia. These lead programs include LTX-002, an antisense oligonucleotide treatment for ALS, and LTX-001, a small molecule for schizophrenia. Leal aims to submit Investigational New Drug (IND) applications by year-end and to initiate human trials in early 2025.
Leal’s approach targets specific metabolic pathways known to be affected in neurodegenerative and neuropsychiatric disorders, aiming to develop effective options for patients who currently lack sufficient treatments. Dr. Asa Abeliovich, Leal’s CEO, emphasized that the support from new and returning investors is critical for advancing their therapies toward clinical trials.
Dr. Thomas Cahill from Newpath Partners, who has now joined Leal’s board, expressed confidence in Leal’s potential to address the significant unmet needs in ALS and schizophrenia, marking a significant step toward better treatment options for those affected by CNS disorders.
Send news releases to Charlene Arsenault at carsenault@theworcesterguardian.org
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