Myrobalan Therapeutics Closes $24M Series A Financing
Summary
The round was led by Co-win Ventures, with participation from new and existing investors including Guan Zi Equity Investment (Li Shui) Partnership (Limited Partnership), 3E Bioventures Capital, and AB Magnitude Ventures Group. The company intends to use the funds to advance its first program into the clinic. Led by CEO Dr. Jing Wang, Myrobalan is developing orally available small molecule neurorestorative therapies, including an antagonist to G-protein coupled receptor 17 (GPR17), a central target to promote remyelination, an inhibitor to colony-stimulating factor-1 receptor (CSF1R), which is involved in both demyelination and neuroinflammation, and an allosteric tyrosine kinase 2 (TYK2) inhibitor, to reduce neuroinflammation. It plans to address a broad range of neurological conditions through these programs.