Trace Neuroscience, co-founded by professors from UCL and Stanford, has closed a significant £79m Series A funding round to develop therapies for amyotrophic lateral sclerosis (ALS).
- The company focuses on restoring UNC13A protein production, vital for neuron communication, which is lost in most ALS cases.
- Pietro Fratta, a founding professor, highlighted the cutting-edge nature of this approach and its potential to transform ALS treatment.
- The Series A round was led by several prominent investors, showing confidence in the therapeutic potential of UNC13A.
- The collaboration was made possible through an exclusive intellectual property licensing with UCL, underscoring the importance of academic partnerships.
Trace Neuroscience, a biotechnology firm spearheaded by molecular neuroscience expert Pietro Fratta from University College London and genetics specialist Aaron Gitler from Stanford University, has successfully acquired a £79m Series A funding round. This financial backing aims to forward their development of innovative treatments for amyotrophic lateral sclerosis (ALS), a progressive neurodegenerative disease.
The crux of Trace Neuroscience’s research is the restoration of UNC13A protein production. This protein is crucial for the communication between neurons and muscles, which significantly deteriorates in nearly all cases of ALS. Professor Fratta described the potential to rejuvenate this protein as ‘groundbreaking’, emphasising how it could herald a new era in ALS therapies.
The funding was primarily led by Third Rock Ventures, with additional investments from Atlas Ventures, GV, and RA Capital Management. This substantial investment reflects the enthusiasm and confidence from major investors regarding the therapeutic target of UNC13A. Caitriona O’Rourke, associated with UCL Business, expressed shared excitement about advancing this innovative therapeutic approach from laboratory research to clinical application.
The foundation of Trace Neuroscience was through a strategic licensing agreement with UCL, highlighting the value of academic-industry collaboration in pioneering medical advancements. This collaboration is intended to expedite the translation of scientific discoveries into viable medical solutions, supporting Trace Neuroscience’s ambition to bring new ALS treatments to market swiftly.
Trace Neuroscience is poised to lead advancements in ALS treatment with this substantial funding and innovative scientific approach.
