QurAlis Secures $5.5M Seed Funding to Advance ALS and FTD Therapeutics

VCBeat (WeChat Official Account: vcbeat) has learned that on November 19, 2018, Eastern Time, innovative biopharmaceutical company QurAlis announced the completion of a $5.5 million seed financing round. BioInnovation Capital, Viva Biotech Limited, MP Healthcare Venture Management, and Amgen Ventures participated in this round of investment.

The company also won the Pfizer-sponsored Golden Ticket Award and is now a resident company at Johnson & Johnson Innovation’s JLABS. In addition to this financing, Dr. Jeffrey Moore, President of MPH, and Dr. Johannes Fruehauf, General Partner at BioInnovation Capital, will join QurAlis’ Board of Directors.

QurAlis plans to use the funding to advance preclinical research on amyotrophic lateral sclerosis (ALS) and frontotemporal dementia (FTD).

Image source:QurAlisOfficial Website

“ALS is the most common motor neuron disease; it is not a single disease but rather a spectrum of disorders with diverse underlying mechanisms. Thanks to advances in human genetics and our understanding of disease pathogenesis, we now know of more than 25 genes associated with ALS, many of which are also implicated in the development of FTD,” said Dr. Kasper Roet, CEO of QurAlis. “QurAlis is focused on developing targeted therapeutics for distinct patient populations affected by ALS and FTD. Our proprietary technologies and patient-derived cells, combined with our team’s expertise in medicinal chemistry and structure-based drug design, enable us to rapidly identify clinical-stage candidate drugs. With the strong support we have received from investors and pharmaceutical partners, we are bringing these much-needed therapies to patients.”

This marks the second time QurAlis has won the Pfizer-sponsored Golden Ticket award, having previously secured the first-ever LabCentral Golden Ticket in a 2017 competition sponsored by Amgen. With the Golden Ticket, QurAlis will gain access to equipment and laboratory space provided by LabCentral for biomedical research, in addition to design and communication opportunities.

“ALS is a devastating disease that often strikes without warning. Today, when a seemingly healthy young person is diagnosed with ALS, his or her life expectancy is only about three years. My partner and I closely followed QurAlis’s research progress during our time at LabCentral. We believe their novel approach has the potential to alter the course of ALS, much like antiretroviral therapy did for HIV in the late 1990s. We are delighted to provide our support and expertise to help propel the company forward,” added Dr. Fruehauf, Co-founder and President of LabCentral.

QurAlis is focused on developing new therapies for amyotrophic lateral sclerosis (ALS). A subsidiary of the Cambridge-based Q-State Biosciences, a stem cell biotechnology company that has developed proprietary technologies in the field of stem cells, QurAlis holds exclusive rights for use in ALS drug development.

Amyotrophic Lateral Sclerosis (ALS) is the most common motor neuron disease. ALS is a condition characterized by symptoms such as paralysis, inability to speak, and respiratory failure due to the rapid death of motor neurons. The average life expectancy for patients is only three years, with an average age of onset at 55 years.