Rodin Therapeutics, a US-based developer of treatments for neurological disorders, has received $17.3m from biotechnology company Biogen and venture capital firm Atlas Venture through a preferred stock financing.
Co-founded by Atlas Venture and biotech company Proteros Biostructures in 2013, Rodin is working on a pipeline of epigenetic modulators to combat neurological disorders such as Alzheimer’s disease.
In addition to providing equity financing, Rodin and Biogen have agreed a multi-year research collaboration centred on neuronal epigenetics. Biogen has also secured the option to acquire Rodin at undisclosed milestones for up to $485m in upfront and milestone payments.
Adam Rosenberg, Rodin’s president and CEO, said: “Central nervous system diseases – in particular, neurodegenerative conditions such as Alzheimer’s disease – represent some of the most challenging areas of drug discovery and development. There remains a compelling need for innovative therapeutic approaches.
“I believe strongly that early collaboration with a strong pharmaceutical company to progress treatment towards and through clinical trials results in a higher probability of success, especially in neuroscience.
“We are thrilled to be working with a leading company such as Biogen that has so clearly focused its research and development efforts on neurology.”
Samantha Budd Haeberlein, Biogen’s vice president of clinical development, will join Rodin’s board of directors.
Rodin received an undisclosed amount of seed funding from Atlas Venture and Johnson & Johnson Development Corporation, healthcare company Johnson & Johnson’s corporate venturing unit, in 2013, before the two returned for a $12.9m series A round the following year.