Healthcare Industry News: Peter Wirth
News Release - May 12, 2014
Lysosomal Therapeutics Inc. Receives $4.8 Million in Seed FundingLink between lysosome-based genetic disorders and neurodegenerative diseases to be explored as foundation for new therapeutics
CAMBRIDGE, Mass.--(Healthcare Sales & Marketing Network)--Lysosomal Therapeutics Inc. (LTI), a company leveraging its expertise in lysosomal biology to develop novel small molecules for use in the treatment of neurodegenerative diseases, announced today it has raised $4.8 million in seed funding. Atlas Venture was the lead investor, with additional participation from Hatteras Venture Partners, Lilly Ventures, Sanofi-Genzyme BioVentures, Roche Venture Fund, Partners Innovation Fund and several angel investors, including Orion Equity Partners, LLC. LTI was founded by Dimitri Krainc, M.D., Ph.D., and former Genzyme executives Henri Termeer, Bob Carpenter and Peter Wirth. Kees Been is the founding president and chief executive officer of the company.
Compounds that enhance GCase activity represent a potential breakthrough opportunity to develop an entirely new class of agents to treat GD and PD. The risk of developing PD in the broader population has also been firmly linked to GCase mutations. This illustrates how rare diseases can be used as model systems for developing therapeutics for common neurodegenerative disorders.
ďThis inventive approach to treating Parkinsonís disease was really facilitated by the success of current treatment strategies, such as enzyme replacement therapy, that have enabled the Gaucher disease patient population to live longer,Ē said Been. ďHowever, an unfortunate consequence of this longevity is the finding that Gaucher patients experience a 20-fold increased risk of developing Parkinsonís disease. At LTI, our lead development program is a completely novel approach to treating Parkinsonís disease by developing small molecules that can cross the blood-brain barrier to increase the activity of the GCase enzyme in the lysosome and potentially reduce Parkinsonís disease risk.Ē
ďThis seed funding will be instrumental in enabling LTI to progress its GCase program through the lead-generation process and in setting us up for preclinical development,Ē said Carpenter, who chairs LTIís board of directors. ďI look forward to working with Kees and his team to refine LTIís GCase modulator platform over the coming months, with an eye toward advancing breakthrough therapeutics for Parkinsonís disease.Ē
ďWe are pleased to support LTI through this seed round of funding,Ē said Bruce Booth, Ph.D., partner at Atlas Venture. ďAtlas believes that LTIís GCase modulator platform holds great promise as a foundation for discovering therapeutics for neurodegenerative diseases like Parkinsonís, through exploring the implications of known relationships between lysosomal storage and neurodegenerative disorders.Ē
ďOur long-term mission is to develop targeted therapies for children and adults with neurodegenerative disorders that will be based on in-depth, mechanistic understanding of these disorders,Ē added Krainc.
With this financing, new board members will include Booth; Clay Thorp, general partner at Hatteras Venture Partners; Steve Hall, Ph.D., venture partner at Lilly Ventures; Bernard Davitian, vice president and managing director of Sanofi-Genzyme BioVentures; and Carole Nuechterlein, head of Roche Venture Fund. CEO Been also serves as a member of the board of directors. Nessan Bermingham, Ph.D., venture partner at Atlas Venture, and Reza Halse, Ph.D., partner at Partners Innovation Fund, have been appointed as board observers.
About the Implications of Lysosomal Storage Disorders on Neurodegenerative Diseases
Lysosomal storage disorders (LSDs) are a group of approximately 60 known genetically-inherited diseases characterized by a deficiency of various vital enzymes. All LSDs consist of neurological components, but Gaucher disease (GD) is the most common LSD, occurring when the gene that encodes the lysosomal enzyme glucocerebrosidase (GCase) is mutated and unable to effectively break down its substrate, glucosylceramide. This results in a build-up of lipids in patientsí cells, causing serious health issues.
Recent genetic research suggests that GCase mutations may also cause a predisposition to Parkinsonís disease (PD). The manifestation of the neurotoxic aggregation of the protein alpha-synuclein, also known as Lewy bodies, is the hallmark symptom of PD. Lysosomal Therapeutics Inc.ís (LTI) initial research shows that restoring lysosomal function in human neurons of GD and PD patients may normalize the otherwise-elevated levels of alpha-synuclein. In addition to its work with GD and PD, LTI is investigating other lysosomal enzyme deficiencies and their respective genetic links to common neurodegenerative diseases.
About Lysosomal Therapeutics Inc.
Lysosomal Therapeutics Inc. (LTI) is dedicated to innovative small-molecule research and development in the field of neurodegeneration, yielding new treatment options for patients with severe neurological diseases. Our strategy leverages the clinically-validated link between lysosome-based genetic disorders and neurodegenerative diseases to establish a unique and effective molecular platform for novel drug discovery. LTIís lead program targets Gaucher-related neurodegeneration, Parkinsonís disease and other synucleinopathies. www.lysosomaltx.com
Source: Lysosomal Therapeutics
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