Alzheimer’s player gets $47M, a new name and a pair of marquee board members
After eight years working on the fringes of Alzheimer’s drug development, the group operating NeuroPhage has added a couple of high-profile biotech players in the Cambridge/Boston hub to the board, adopted a new name and completed a hefty $47 million Series E round aimed at gaining proof-of-concept data for a lead drug that will try to land a novel one-two punch against the disease.
The new name is Proclara Biosciences. The money comes from Mérieux Développement and a group of unidentified high-net worth individuals and the execs are Third Rock’s Dan Lynch, the former Imclone chief who is taking the executive chairman’s role at Proclara, while chief bluebird and Third Rock co-founder Nick Leschly also steps on to the board. Third Rock itself is not involved with this syndicate.
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