Leal Therapeutics, a Worcester, Massachusetts-based clinical-stage biotechnology company developing neuro-metabolic therapies for central nervous system disorders, has raised $30 million in the second close of its Series A funding round.
The round was backed by Eli Lilly and Company, OrbiMed, Newpath Partners, Euclidean Capital, SV Health Investors’ Dementia Discovery Fund, Chugai Venture Fund, Alexandria Venture Investments, and PhiFund.
Leal Therapeutics will use the funding to advance its lead programs. The company plans to take LTX-001 through an initial readout of its Phase 1b/2a trial in patients with schizophrenia and advance LTX-002 through additional dosing cohorts in an ongoing Phase 1/2 trial for amyotrophic lateral sclerosis (ALS).
Led by Founder and CEO Asa Abeliovich, M.D., Ph.D., Leal Therapeutics is developing therapies targeting CNS disorders through a platform that combines human genetics, functional genomics and biomarker analyses with proprietary antibody-like shuttle technology designed to enable brain-penetrant delivery of small molecules and nucleic acid therapies.
