Libra Therapeutics' $29 Million Series A Financing
Libra Therapeutics launched to develop novel drug candidates focused on restoring the cellular balance lost in neurodegenerative diseases. These include amyotrophic lateral sclerosis (ALS) and frontotemporal dementia (FTD), which are both characterized by disequilibrium caused by the production and decreased clearance of neurotoxic proteins. In conjunction with the company’s launch, Libra Therapeutics has secured $29 million in Series A financing co-led by Boehringer Ingelheim Venture Fund (BIVF), Epidarex Capital, and Santé. The round was joined by Yonjin Venture, Dolby Family Ventures, and Sixty Degree Capital.
Libra Therapeutics was founded on breakthrough science generated by Axxam S.p.A., a leading discovery research organization, which provides Libra Therapeutics novel and proprietary chemical matter, cutting edge and exclusive assays, and robust drug discovery expertise. The financing proceeds will be used primarily to build the team and advance a pipeline of novel small molecule drug candidates for the treatment of neurodegenerative diseases.
The Wilson Sonsini team advising Libra Therapeutics includes Mark Solakian (Picture), Jake Gatof, Amanda Creedon, and Catherine Warren.