Trace Neuroscience Secures £79m for ALS Therapy
Deal News | Nov 12, 2024 | UK Tech Funding
Trace Neuroscience, a recent biotech firm founded by professors from University College London and Stanford University, has raised a significant $101m (£79m) in Series A funding to further the development of a novel treatment for amyotrophic lateral sclerosis (ALS), a progressive neurodegenerative disease. The funding round was led by Third Rock Ventures, with additional support from Atlas Ventures, GV, and RA Capital Management. This fund injection aims to accelerate the translation of scientific research into clinical therapies by focusing on nucleic acids that could restore the production of UNC13A proteins, crucial for neuronal communication disrupted in ALS patients. The urgency and potential impact of this treatment have garnered major investment interest, signaling optimism in stakeholders for a groundbreaking therapeutic avenue that could alter the prognosis for ALS sufferers.
Sectors
- Biotechnology
- Venture Capital
Geography
- United Kingdom – Trace Neuroscience is heavily supported by University College London, indicating strong ties to the UK.
- United States – The co-founder of Trace Neuroscience is from Stanford University, a key US academic institution, and US-based investors like Third Rock Ventures are involved.
Industry
- Biotechnology – The article focuses on the biotech firm Trace Neuroscience, developing innovative treatments for ALS.
- Venture Capital – The industry is relevant due to significant Series A funding led by firms like Third Rock Ventures, Atlas Ventures, GV, and RA Capital Management.
Financials
- £79m – Series A funding raised by Trace Neuroscience for ALS treatment development.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Trace Neuroscience | Target | Company | A biotech firm developing treatments for ALS, co-founded by professors from UCL and Stanford. |
| University College London (UCL) | Supporting Institution | Company | Provided foundational technology and exclusive intellectual property for Trace Neuroscience. |
| Third Rock Ventures | Lead Investor | Company | Led the Series A funding round for Trace Neuroscience, showing interest in their ALS research. |
| Atlas Ventures | Investor | Company | A venture capital firm providing funding in the Series A round. |
| GV | Investor | Company | Google Ventures, part of the Series A funding for Trace Neuroscience. |
| RA Capital Management | Investor | Company | Investment management company participating in Trace Neuroscience's Series A funding. |
| Pietro Fratta | Co-Founder | Person | UCL molecular neuroscience professor and co-founder of Trace Neuroscience. |
| Aaron Gitler | Co-Founder | Person | Stanford University genetics professor and co-founder of Trace Neuroscience. |
| Caitriona O'Rourke | Business Manager | Person | Business manager at UCL Business, backing the intellectual property licensing for Trace Neuroscience. |