Aquinnah Pharmaceuticals Receives $5 Million Investment from Takeda Pharmaceuticals To Advance New Therapies in ALS
CAMBRIDGE, Massachusetts, Dec. 21, 2015 /PRNewswire/ -- Aquinnah Pharmaceuticals announced today that it has received a $5 Million investment from Takeda Pharmaceutical Company, Limited, in it's first private equity financing. The company has assembled a world-class team of drug developers and an exceptional Scientific Advisory Board in the fields of Amyotrophic Lateral Sclerosis (ALS), protein and RNA regulation, and neurodegenerative diseases.
Aquinnah's technology platform represents an innovative approach that targets pathological protein complexes found in the brain of the majority of patients with ALS. The accumulation of these disease-linked protein complexes are believed to drive the progression of ALS. Aquinnah has designed its newly identified compounds to slow or reverse the progression of ALS by attacking and breaking down these protein complexes, with the goal of swiftly moving a new and effective class of ALS drugs into clinical development.
Currently there is no cure or effective treatment for slowing the progression of ALS, a lethal neurodegenerative disease that quickly stifles nerve cell function, leading to loss of muscle control throughout the body. ALS can progress rapidly, with more than half of newly diagnosed patients not surviving beyond three years.
"We are pleased to have received this strategic investment from Takeda," said Glenn Larsen, Ph.D., President and CEO of Aquinnah. "This funding adds further momentum to the numerous peer reviewed grants that we have received and will accelerate our program toward clinical development of new drugs for ALS and other neurodegenerative diseases."
"Our investment in Aquinnah Pharmaceuticals reflects Takeda's commitment to supporting innovative research in areas of high unmet medical need," said Dr. Ceri Davies, Head of Takeda Central Nervous System Drug Discovery. "We believe that Aquinnah's program is among the most promising new approaches to treating neurodegenerative diseases."
About Aquinnah Pharmaceuticals
Aquinnah Pharmaceuticals is using newly discovered brain pathology to design innovative therapies to slow the progression of ALS and other neurodegenerative diseases. Aquinnah builds on the groundbreaking work of co-founder Benjamin Wolozin, M.D., Ph.D., who has led the discovery of disease-linked protein aggregation in neurologic diseases. Additional information about Aquinnah is available through its corporate website, www.aquinnahpharmaceuticals.com
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