MODAG Secures €12 Million Series A Financing to Advance Anle138b for Parkinson’s-Related Disorders

On June 27, 2019, VCBeat (WeChat ID: vcbeat) learned that the German biotechnology company MODAG announced the completion of a €12 million Series A financing round. The round was led by the private equity investment firm Massa Investment AG, and the proceeds will be used to support the company’s next stage of development and the clinical development of its novel oligomer modulator, Anle138b. Jeff Putman, an executive at Massa Investment AG, will join MODAG’s Board of Directors.

MODAG is a privately held German biotechnology company founded in 2013 and headquartered in Germany. The company is developing a novel therapeutic approach for neurodegenerative diseases by combining targeted small-molecule therapies with theranostic tools.

Anle138b is a small-molecule compound that specifically binds to the toxic oligomeric structures of α-synuclein, a core aggregating protein in Parkinson’s disease. By binding to target cells, Anle138b effectively dissolves toxic oligomers and prevents the formation of new ones, thereby halting the progression of multiple system atrophy (MSA), an atypical parkinsonian disorder.

“MODAG has developed an approach to address MSA,” said Jeff Putman. “The team brings scientific experience in neurodegenerative diseases, clinical expertise, and advanced corporate operational concepts. We look forward to MODAG developing more effective treatment regimens for patients with MSA and related disorders.”

In addition to securing financing, MODAG has appointed Dr. Torsten Matthias as Chief Executive Officer. Dr. Matthias brings over 20 years of corporate management experience. Dr. Armin Giese has been appointed as Chief Scientific Officer. An expert in neuropathology, Dr. Giese possesses extensive knowledge in the field of neurodegenerative diseases and has published numerous articles in neuroscience journals.

“The newly secured funding gives us the confidence to advance the clinical trial preparations for Anle138b and to initiate the Phase 1 program for Anle138b,” commented Dr. Torsten Matthias, CEO of MODAG. “Although MSA is considered a rare disease, halting its progression would have significant implications for many neurodegenerative disorders.”

“Currently available therapies for MSA can only alleviate symptoms. Our goal in developing Anle138b is to halt disease progression while addressing key issues,” added Dr. Armin Giese, Chief Scientific Officer at MODAG. “Based on the clinical trial data we have accumulated so far, we believe it has the potential to exert beneficial effects in patients with MSA as well as those suffering from similar pathologies.”

Massa Investment AG, established in 1908, is a diversified private equity firm specializing in real estate development and hotel services. The company’s primary objective is to unlock project potential and create value. From site selection and design to brand building and marketing, Massa Investment AG’s team possesses extensive expertise in all aspects of the construction process for residential, retail, hotel, and mixed-use projects.

(Compiled by Cheng Tao)