QurAlis Closes $88 Million Series B Financing to Advance Precision Medicines for Neurodegenerative Diseases
Summary
Financing supports clinical activities for Companys two lead programs in ALS and pipeline developmentCAMBRIDGE, Mass., March 9, 2023 QurAlis Corporation, a clinical-stage biotechnology company developing breakthrough precision medicines for amyotrophic lateral sclerosis (ALS) and other neurodegenerative diseases with genetically validated targets, today announced it has closed an oversubscribed $88 million Series B financing, bringing the total funds raised to $143.5 million. In addition, the financing will support ongoing and planned research, as well as the advancement of QurAlis pipeline with therapeutic candidates that target specific components of ALS and genetically related frontotemporal dementia (FTD) pathology and defined ALS patient populations based on both disease-causing genetic mutation(s) and clinical biomarkers. This financing round recognizes our scientific track record and will help us advance the clinical development of our two lead programs in ALS and robust pipeline through near-term value-creating milestones. QRL-201 rescues STMN2 loss of function in QurAlis ALS patient-derived motor neuron disease models in the presence of TDP-43 pathology. QurAlis proprietary platforms and unique biomarkers enable the design and development of drugs that act directly on disease-causing genetic alterations.
Funding
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