Aspen Neuroscience, a private biotechnological company developing the first autologous neuron replacement therapy for Parkinson’s disease, today announced the closing of its $70 million Series A funding round. OrbiMed led the investment round with the participation of ARCH Venture Partners, Frazier Healthcare Partners, Domain Associates, Section 32, and Sam Altman.
“Our mission at Aspen Neuroscience is to develop a restorative, autologous neuron therapy-modifying disease for people with Parkinson’s disease,” said Dr. Howard Federoff, Chief Executive Officer, Aspen Neuroscience “We are dedicated to using a person’s own cells for replacement therapy and bringing best-in-class treatment to people with Parkinson’s disease as quickly as possible. “That’s right.
“We are impressed by the progress that Aspen has made to date in developing innovative therapies to treat Parkinson’s disease and encouraged the broader investment community to support the company,” said Jonathan Silverstein, Managing Partner of OrbiMed.
Aspen’s lead product, ANPD001, is currently under investigation of the new drug (IND)-enabled studies for the treatment of sporadic forms of Parkinson’s disease. Aspen’s second product, ANPD002, combines gene correction and autologous neuron therapy to treat the genetic forms of Parkinson’s disease. Aspen leverages proprietary AI-based genomics tools for comprehensive quality control that reduce the time and cost of the manufacturing process needed to produce safe, reproducible and customized cell therapy.
Series A funding will support the completion of all remaining IND-enabling studies and the submission by the FDA of the IND on Aspen’s lead product (ANPD001) as well as the recruitment and screening of the trial-ready cohort of people with Parkinson’s disease and the production of their cells for the lead product. In addition, the capital will enable the company to obtain meaningful data from a Phase 1 clinical study to show evidence of the biological effect of therapy and to lay the foundation for a Phase 2 multi-center randomized controlled trial. The funding will also support the continued R&D pipeline, which includes autologous gene-corrected dopamine neurons for heritable forms of Parkinson’s disease risk (ANPD002) and programs that extend beyond dopamine neurons and explore the treatment of neuroinflammatory diseases.
Neuroscience Aspen, Inc. , is a developmental stage, a private biotechnology company that uses innovative genomic approaches combined with stem cell biology to deliver patient-specific, restorative cell therapies that change the course of Parkinson’s disease. Aspen’s therapy is based on the scientific work of a world-renowned stem cell scientist, Dr. Jeanne Loring, who has developed a novel method of autologous neuron replacement For more information and updates, please visit http://www Aspen-euroscience Come on,
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