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news.Leal Therapeutics, a US-based biotechnology company, has secured $30m in a Series A funding round for advancing its neuro-metabolic therapies to treat neuropsychiatric and neurodegenerative disorders.
The company’s lead programme, LTX-001, is being developed for psychiatric disorders including schizophrenia. Credit: Robina Weermeijer on Unsplash.
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This round of financing was led by SV Health Investors’ Dementia Discovery Fund (DDF), with contributions from existing investors including Newpath Partners, OrbiMed, Euclidean Capital, Chugai Venture Fund, PhiFund, and Alexandria Venture Investments.
The company’s lead programme, LTX-001, is an oral brain-penetrant small molecule designed to reduce excessive glutamate by inhibiting the mitochondrial enzyme glutaminase.
It is being developed for psychiatric disorders including bipolar disorder, schizophrenia, and major depressive disorder, as well as amyotrophic lateral sclerosis (ALS). Initial clinical data showed safety and target engagement.
LTX-002, a near-clinical stage antisense oligonucleotide (ASO), is in development for genetic and sporadic ALS.
The company is also advancing LTX-007, a small molecule SPT inhibitor, for conditions such as Alzheimer’s disease, ALS and inherited sphingolipidoses.
In addition, it is developing delivery technologies to improve transport of nucleic acid therapeutics into the brain using antibody-like shuttles to cross the blood-brain barrier.
Funding from the Series A round will support advancement of LTX-001 through a study in schizophrenia, and progression of LTX-002 into early clinical evaluation in ALS.
Leal Therapeutics founder and CEO Asa Abeliovich said: “This financing enables us to further progress our first-in-class neuro-metabolic pipeline to clinical data for patients with severe unmet needs.
“We’re grateful to our new and existing investors for their shared commitment to advancing this work.”
SV Health Investors partner Christian Jung joined Leal’s board of directors in connection with the round.
