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Arkuda Therapeutics Raises $64 Million Series B Financing To Advance Pipeline Of Programs Targeting Lysosomal Biology To Treat Neurodegenerative Diseases

Feb 10, 2022•over 3 years ago

Amount Raised

$64 Million

Round Type

series b

Watertown

Description

Arkuda Therapeutics, a biotechnology company applying novel insights at the intersection of lysosomal and microglial biology to develop medicines to change the trajectory of neurodegenerative disease, today announced the completion of a $64 million Series B financing. The financing was co-led by Cormorant Asset Management and Pivotal bioVenture Partners, with participation from Surveyor Capital (a Citadel company), and Eli Lilly and Company, as well as existing investors Atlas Venture, Pfizer Ventures, funds managed by Tekla Capital Management LLC, and Mission BioCapital.

Company Information

Company

Arkuda Therapeutics

Location

Watertown, South Dakota, United States

About

Arkuda Therapeutics is a biotechnology company applying insights into lysosomal and microglial biology to drive the development of medicines to change the trajectory of neurodegenerative disease. Arkuda's lead program aims to correct progranulin deficiency and lysosomal dysfunction in patients with GRN-related frontotemporal dementia (FTD-GRN), a genetically-defined subtype of frontotemporal dementia caused by an autosomal dominant mutation in the progranulin (GRN) gene. The company is further exploring the therapeutic potential of its molecules in other neurodegenerative diseases where genetic links to dysfunction in progranulin biology have been established, including Alzheimer's Disease and Parkinson's Disease. Arkuda is backed by leading investors including Atlas Venture, Cormorant Asset Management, Pivotal bioVenture Partners, Pfizer Ventures, funds managed by Tekla Capital Management LLC, Mission BioCapital, Surveyor Capital (a Citadel company), and Eli Lilly and Company. To learn more visit www.arkudatx.com. SOURCE Arkuda Therapeutics

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