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Massachusetts-based biotech company Lucy Therapeutics (LucyTx) secured $12.5 million to further develop their novel treatments targeting mitochondrial dysfunction, a cellular abnormality linked to neurodegenerative diseases like Alzheimer's, Parkinson's, and Rett syndrome.
By analyzing the interplay of mitochondrial, environmental, and genetic factors, LucyTx has identified unique drug targets and is developing small-molecule drugs and diagnostic tools.
With promising lead compounds and biomarkers identified for Parkinson's and Rett syndrome, the company aims to file Investigational New Drug applications early next year, marking a crucial step toward clinical trials.
This latest funding round, led by Engine Ventures and Safar Partners with participation from Bill Gates, Parkinson's UK, and others, brings LucyTx's total funding to over $36 million, enabling them to advance their mission of providing potentially curative treatments for these devastating diseases.
