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news.MedGenesis Therapeutix has raised $5m to support the Phase II clinical development of glial cell derived neurotrophic factor protein (GDNF) in Parkinson's disease.
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GDNF is a naturally-occurring growth factor capable of protecting and promoting the survival of dopamine producing nerve cells.
MedGenesis chairman and CEO Erich Mohr said they hope that the potentially disease-modifying treatment will change the quality of Parkinson’s disease patients’ life.
"This financing will assist us in the completion of the Phase II clinical program for GDNF and allows us to now shift our focus to financing our Phase III program," Mohr added.