Alzheimer’s and Parkinson’s cause more than 30 million cases worldwide
Lucy Therapeutics (LucyTx) announced it has raised an additional $12.5 million in funding to advance its research programs into potentially new medicines and neurological disorders.
The funding comes from existing investors Engine Ventures and Safer Partners, and more recently from the Bill & Melinda Gates Foundation, the Michael J. Fox Foundation and Parkinson’s UK Biotechnology Program, bringing the company’s total funding to $36 million.
The new project aims to develop new treatments based on mitochondrial small molecule therapeutics and diagnostic biomarkers for Alzheimer’s disease (AD) and Parkinson’s disease (PD), as well as continue the development of new drug targets for Rett syndrome, a rare genetic neurodevelopmental disorder that affects brain development.
AD and PD are the two most common neurodegenerative diseases worldwide, affecting approximately 24 million and 10 million people, respectively.
The team will use LucyTx’s platform to dissect various disease drivers central to disease progression, including mitochondrial, environmental and genetic factors, to create a detailed knowledge map of the disease and uncover common underlying biological pathways for addressing drug targets.
Mitochondria are responsible for communication between cells, provide the energy we need to live, and guide cell growth and death. In Parkinson’s disease, mitochondria in the brain become damaged, leading to cell death.
LucyTx has developed a molecule that targets a key protein in mitochondria to reduce levels of alpha-synuclein, a protein that builds up in PD and damages brain cells that produce dopamine, thereby improving mitochondrial function and preventing brain cell death.
The new funding will help propel further trials closer to clinical trials, while potentially providing a treatment to save dying brain cells and halt the progression of Parkinson’s disease.
Amy Lipka, founder and CEO of LucyTx, commented, “This funding will advance our efforts to develop a new class of therapeutics to address mitochondrial dysfunction and provide a potentially curative treatment for people suffering from AD, PD and Rett Syndrome.”
