LoQus23 Therapeutics announces £35 million (c.$43 million) Series A financing to advance its small molecule somatic expansion inhibition therapy for Huntington's disease
Summary
Financing led by leading life sciences venture capital firm Forbion, with participation from existing investors SV Health Investors Dementia Discovery Fund (DDF) and Novartis Venture Fund (NVF) Lead programme targeting MutS set to enter the clinic in 2026, offering a potentially disease-modifying therapy for Huntingtons diseaseCAMBRIDGE, England, Oct. 2, 2024 /PRNewswire/ -- LoQus23 Therapeutics Ltd ("LoQus23"), a private biotechnology company investigating small molecule drugs that could stop DNA instability and slow neurodegeneration in Huntingtons Disease, myotonic dystrophy type 1 and similar triplet repeat expansion diseases, today announces the successful close of its \xa335 million (c.$43 million) Series A financing. By targeting somatic expansion, LoQus23 is hoping to slow or even halt the onset and progression of Huntingtons disease, a concept supported by genetic studies and recently strengthened by pre-clinical models.The proceeds of the Series A financing will be primarily used to support the pre-clinical development and initial clinical studies of LoQus23s lead programme, an allosteric small molecule MutS inhibitor. "Rogier Rooswinkel, General Partner at Forbion and newly appointed Board Member of LoQus23, commented: "Somatic expansion is a key driver of triplet repeat diseases like Huntingtons. Oral small molecule drugs have a strong track record in treating complex brain diseases and provide greater convenience for patients compared with other advanced treatment modalities.LoQus23 has a highly experienced leadership team, built on world-class science. Forbions record of sourcing, building and guiding life sciences companies has resulted in many approved breakthrough therapies and valuable exits.