- Other backers included OrbiMed, Newpath Partners, Chugai Venture Fund, Euclidean Capital, Alexandria Venture Investments, and PhiFund
- In connection with the financing, Dr. Christian Jung, a partner at SV Health Investors, joined Leal’s board of directors
- Leal was launched in 2021
Leal Therapeutics, Inc., a Worcester, Massachusetts-based biotechnology company developing new treatments for patients with central nervous system disorders, has secured $30 million in Series A financing.
SV Health Investors’ Dementia Discovery Fund led the round. Other backers included OrbiMed, Newpath Partners, Chugai Venture Fund, Euclidean Capital, Alexandria Venture Investments, and PhiFund.
Proceeds from the Series A financing will be used to advance LTX-001 through a clinical trial in schizophrenia patients, as well as progress LTX-002 through initial clinical data in ALS.
“This financing enables us to further progress our first-in-class neuro-metabolic pipeline to clinical data for patients with severe unmet needs,” said Dr. Asa Abeliovich, founder and CEO of Leal in a statement. “We’re grateful to our new and existing investors for their shared commitment to advancing this work.”
In connection with the financing, Dr. Christian Jung, a partner at SV Health Investors, joined Leal’s board of directors.
Leal was launched in 2021.
