Lysosomal Therapeutics, a US-based pharmaceutical company focused on neurodegenerative diseases, secured $20m yesterday in a series A round featuring the corporate venturing units of pharmaceutical companies Eli Lilly, Roche and Sanofi.
Lilly Ventures, Roche Venture Fund and Sanofi-Genzyme BioVentures were joined by Hatteras Venture, Atlas Venture, Partners Innovation Fund and Orion Equity Partners, as well as company co-founders Henri Termeer and Bob Carpenter.
Lysosomal previously secured $4.8m in a May 2014 seed round led by Atlas that included Eli Lilly, Roche, Sanofi, Hatteras, Partners Innovation Fund and several angel investors. In December 2014, the Michael J Fox Foundation for Parkinson’s Research awarded the company a $230,000 grant.
Lysosomal is working on treatments for a group of neurodegenerative diseases known as lysosomal storage disorders. These consist of some 60 genetically inherited diseases caused by a deficiency of various vital enzymes.
The company will use the fresh funding to support preclinical development for its treatment of Parkinson’s. It will also explore targeting other neurodegenerative diseases with its technology.