SciNeuro Pharmaceuticals Raises $58 Million to Advance Neurodegenerative Disease Therapies

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Prime Highlight

  • SciNeuro Pharmaceuticals secured $53 million in equity financing, plus a $5 million research grant from The Michael J. Fox Foundation, to accelerate its neurodegenerative disease programs.
  • The company also appointed Hogan Wan as CFO to lead financial strategy and support its next stage of growth.

Key Facts

  • SciNeuro’s pipeline targets multiple pathways, including Lp-PLA2, beta amyloid, and LRRK2, aiming to develop disease-modifying therapies for Alzheimer’s and Parkinson’s.
  • The funding round was led by LAV and ARCH Venture Partners, with participation from both new and existing investors.

Background

SciNeuro Pharmaceuticals announced that it has raised $53 million in new equity financing to accelerate the development of its therapies for neurodegenerative diseases. The round was led by LAV and ARCH Venture Partners, with participation from both new and existing investors. The company also recently received a $5 million research grant from The Michael J. Fox Foundation for Parkinson’s Research, bringing its total new funding to $58 million.

SciNeuro said the investment will support the progress of its pipeline targeting multiple disease pathways, including Lp-PLA2, beta amyloid, and LRRK2. The funds will also help advance the company’s discovery programs for additional central nervous system disorders. The biotech firm is developing potential disease-modifying treatments for Alzheimer’s disease, Parkinson’s disease, and other serious neurodegenerative conditions.

Min Li, PhD, Founder and CEO of SciNeuro, said the financing marks an important milestone for the company. He noted that the support of investors strengthens SciNeuro’s mission to push scientific innovation and improve patient outcomes in the CNS field.

Alongside the funding news, SciNeuro announced the appointment of Hogan Wan as Chief Financial Officer. Wan will oversee the company’s financial strategy, operations, and corporate management as SciNeuro prepares for its next stage of growth. Dr. Li said that Wan’s global experience in corporate finance and investor relations will be key to the company’s expansion.

Wan has almost 15 years of experience in biopharma finance and investment banking in Asia and the U.S. He led investor relations and strategy at Ascentage Pharma and played a key role in the company’s Nasdaq IPO. Earlier, he held senior roles at Goldman Sachs, J.P. Morgan, and UBS, advising healthcare companies on IPOs and M&A deals.

Founded in 2020, SciNeuro is a clinical-stage biotechnology company focused on advancing therapies that target neurovascular inflammation, proteinopathy, and immune response; three major drivers of neurodegeneration.