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Fundraisings and IPOs

Date: 2016-10-18

Type of information: Financing round

Company: Mavalon Therapeutics (UK)

Investors: Medicxi Ventures (UK - Switzerland)

Amount: up to € 9 million

Funding type: financing round

Planned used:

Mavalon Therapeutics is a new company focused on stopping the progression of Parkinson’s disease. The company is developing the first orally available small molecule able to induce Glial cell line-Derived Neurotropic Factor (GDNF) production within the brain of Parkinson’s patients. This growth factor is promoting neuronal survival and growth. The drug candidate is a positive allosteric modulator of the metabotropic glutamate
receptor type 3 (mGluR3 PAM) discovered and initially developed by Domain Therapeutics with the support of the Michael J. Fox Foundation. mGluR3 receptor has been shown - by Ferdinando Nicoletti’s group in Italy - to
promote GDNF production when activated by glutamate release. The glutamate is released by degenerating neurons in the brain of Parkinson’s patients. The mGluR3 PAM drug candidate that Mavalon is developing will further induce a physiological GDNF production at the site of neuron degeneration.

This program is the third Parkinson’s disease drug candidate discovered by Domain Therapeutics and further developed by an asset-centric company. The candidate is aimed at stopping the progression of the disease and at reversing its effects.

 

Others:

* On October 18, 2016, Domain Therapeutics, a biopharmaceutical company that specializes in the discovery and development of G protein-coupled receptor (GPCR) drugs,  announced the creation of Mavalon Therapeutics, a company focused on stopping the progression of Parkinson’s disease. Medicxi Ventures has committed up to €9m ($10m) in Mavalon.

Therapeutic area: Neurodegenerative diseases

Is general: Yes