NeuroPhage Pharmaceuticals, a developer of drugs for the treatment of neurodegenerative diseases, has received $17 million of Series D financing from new and existing investors to advance its lead candidate, NPT088, and other potential compounds toward clinical trials. NPT088 has the potential to treat a wide range of neurodegenerative diseases, such as Alzheimer's, Parkinson's, Huntington's and other rare diseases. The structure of this therapeutic candidate is based on NeuroPhage's GAIM (General Amyloid Interaction Motif) technology platform, which recognizes both early and aggregated forms of multiple misfolded proteins, allowing simultaneous targeting of multiple types of disease-related protein deposits.
NeuroPhage previously raised $6.4 million of Series C funding at a $46 million valuation from investors including Shire Strategic Investment Group and Merieux Developpement. The new capital will enable the company to progress an IND-enabling package for NPT088 and prepare for the clinical evaluation of its new approach to treating neurological diseases.