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news.Neuronascent, a small-molecule central nervous system drug discovery company, has received funding from multiple sources to further the development of its neurogenic compounds targeting Alzheimer's disease, depression and ischemia.
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Neuronascent has received grants and funding from Maryland Department of Business and Economic Development Challenge Investment Program; Maryland Industrial Partnerships in collaboration with University of Maryland, Baltimore; and Jefferson Corner Group I, a member-managed angel fund located in Charlottesville, Virginia designed to capitalize on the growth in entrepreneurial activity in Charlottesville and other areas. This is the company’s second award from the challenge investment program.
The company’s lead compounds, currently in preclinical testing, aim to replace damaged neurons, restore neurons critical to cognition and memory and enhance neuroprotection against neurodegenerative diseases. Results from recent animal studies show a reversal of cognitive loss in aged mice to young levels.
Judith Kelleher-Andersson, president and chief scientific officer of Neuronascent, said: “Our lead compound for Alzheimer’s disease may represent the first disease-modifying therapeutic under development. This funding affords us the opportunity to pursue multiple preclinical studies to further develop our lead agents for clinical trials.”