Mitoconix lands $20M to develop neurodegenerative platform out of Stanford; RaNA gets a new name following mRNA deal with Shire
→ Mitoconix has a neurodegeneration platform tech from Stanford and a base in Israel from which it plans to push its lead therapy into clinical testing with the help of a $20 million A round. The science comes from the lab of Stanford’s Daria Mochly-Rosen, who has been studying the effect of excessive fission on mitochondria. Their lead drug is the preclinical MTC-1203, an inhibitor for fission that’s been put through animal tests for Huntington’s disease. The fledgling biotech also believes it can work in a variety of other neurodegenerative diseases like Parkinson’s. Remiges Ventures led the round with help from OrbiMed, Dementia Discovery Fund, Arix Bioscience, RMGP Bio-Pharma investment Fund and others.
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