Amlogenyx Closes USD14M Seed Funding
Summary
Amlogenyx, Inc., a Beverly Hills, CA-based subsidiary of Ultragenyx Pharmaceutical, Inc. (NASDAQ: RARE) which is researching and developing novel gene therapies for Alzheimer’s disease and other amyloid diseases, completed a seed funding round of USD 14m. The seed round was led by GordonMD® Global Investments LP and associated investors, as well as Ultragenyx. The company intends to use the funds to advance its first product candidate. Led by Emil Kakkis, M.D., Ph.D., CEO, Ultragenyx is advancing a protease that they developed alongside Sandra D’Azzo Ph.D. at St. Jude Children’s Research Hospital in Memphis. The study found that the enzyme can break up and degrade efficiently Aβ42, the protein many consider responsible for Alzheimer’s debilitating effects.