Libra Therapeutics, a US-based drug developer targeting neurodegenerative diseases, has raised $29m in its series A round co-led by Boehringer Ingelheim Venture Fund (BIVF), the corporate venturing unit of Germany-based pharma group Boehringer Ingelheim.
The other co-leads were venture capital firms Epidarex Capital and Santé, with participation from VCs Yonjin Venture, Dolby Family Ventures and Sixty Degree Capital.
Libra Therapeutics was founded on science generated by Axxam, a discovery research organisation. 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.
“Martín Heidecker, managing director at BIVF, said: “By modulating scientifically and genetically validated targets to decrease neurotoxic proteins, there is a clearly defined development path with translational and clinical biomarkers.”
