Vanqua Bio, a US-based developer of treatments for neurodegenerative diseases, emerged from stealth yesterday with $85m in series B funding from investors including pharmaceutical firm Eli Lilly.
Omega Funds led the round, which also featured OrbiMed, Surveyor Capital, Avoro Ventures, Casdin Capital, Pontifax, Osage University Partners and Logos Capital.
Founded in 2019 as Surmount Bio, Vanqua Bio is working on therapies that can slow or halt the progression of neurodegenerative conditions including Parkinson’s (PD), Alzheimer’s (AD), Gaucher disease and amyotrophic lateral sclerosis (ALS).
The series B funding will allow the company to accelerate the development of its programmes. Bernard Davitian of Omega Funds and Sara Nayeem of Avoro Ventures will join its board of directors.
Jim Sullivan, co-founder and chief executive of Vanqua Bio, said: “Vanqua Bio is helping usher in a new era of hope for people living with neurodegenerative disorders.
“Our mission – to develop effective therapies that slow or stop the progression of PD, AD, ALS and Gaucher disease – is a very personal one, and we are excited to have the support of world-class investors.”
OrbiMed was identified as a series A investor in Vanqua’s press release, with a regulatory filing indicating the company had raised at least $6m in October 2019.
The original version of this article appeared on our sister site, Global University Venturing.
