Myrobalan Therapeutics Secures $24 Million Series A Financing to Advance Novel Oral Neurorestorative Therapies into Clinical Trials

On January 10, Myrobalan Therapeutics, a portfolio company of Bencao Capital, announced the completion of a $24 million Series A financing round. The company is dedicated to developing novel oral neurorestorative therapies aimed at repairing central nervous system injuries and restoring neurological function, thereby addressing significant unmet clinical needs in neurodegenerative diseases. The round was led by Kaifeng Venture Capital, with participation from Bencao Capital as well as new and existing investors.

Historically, the development of central nervous system (CNS) drugs has been constrained by insufficient target validation, making it difficult to achieve safe, convenient, long-term therapies with adequate blood-brain barrier (BBB) penetration. Myrobalan Therapeutics has the potential to overcome these barriers by developing highly selective, orally administered BBB-penetrant drugs that target novel mechanisms not yet successfully addressed, such as demyelination and neuroinflammation. These therapies aim to treat multiple sclerosis (MS), Alzheimer’s disease (AD), amyotrophic lateral sclerosis (ALS), and certain rare neurological disorders.

Myrobalan Therapeutics is dedicated to developing oral neurorestorative therapies, including antagonists targeting G-protein-coupled receptor 17 (GPR17), a key target for promoting remyelination; inhibitors targeting colony-stimulating factor-1 receptor (CSF1R), which is involved in demyelination and neuropathy; and allosteric inhibitors of tyrosine kinase 2 (TYK2) for reducing neuroinflammation. Myrobalan Therapeutics plans to leverage these pipeline candidates to treat a variety of neurological disorders.

“Our profound understanding of myelin regeneration and neuroinflammation holds broad application value in the treatment of central nervous system diseases with significant unmet clinical needs,” said Dr. Jing Wang, CEO and Co-founder of Myrobalan Therapeutics. “Driven by our robust scientific foundation, strategic collaboration approach, compelling preclinical data, and strong support from institutional investors, Myrobalan Therapeutics will leverage its unique advantages to rapidly advance the clinical trials of its nerve repair drug candidates.”

L-R: Myrobalan Therapeutics' scientific founders Zhigang He and Guoping Feng and co-founder and CEO Jing Wang

Myrobalan Therapeutics is led by a team with extensive research and commercial experience. Dr. Jing Wang co-founded Myrobalan Therapeutics in 2021 with Dr. Zhigang He, Professor of Neurology and Ophthalmology at Harvard Medical School and Member of the National Academy of Medicine, and Dr. Guoping Feng, Poitras Professor of Neuroscience at the McGovern Institute for Brain Research at MIT, member of the Broad Institute of MIT and Harvard, and Member of the National Academy of Medicine. Dr. Wang has previously held executive and leadership positions in neuroscience and oncology drug development at companies such as Curis, TESARO/GSK, and Constellation Pharmaceuticals, successfully leading multiple projects through various stages of development from drug discovery to commercialization. The company also boasts a group of business advisors composed of executives from the biotechnology sector with rich experience in drug development, as well as a senior scientific advisory team with top-tier expertise in myelin regeneration, neuroimmunology, drug design, and clinical research.

“Myrobalan Therapeutics’ approach to GPR17, CSF1R, TYK2, and other key drivers of central nervous system diseases is both novel and timely,”Co-founder Dr. He ZhigangHe stated, “Our basic research has identified that these targets can play a significant role in various central nervous system diseases. Therefore, we are thrilled to see Myrobalan Therapeutics rapidly advancing these therapies to benefit patients.”

“As a seed investor in Myrobalan Therapeutics, we are delighted to have witnessed the rapid development of the company’s projects and to have continuously provided support to the team,”Dr. Yan Shixiang, Partner at Myrobalan Therapeutics“The company’s dual-pronged approach, targeting both the promotion of myelin regeneration and the control of neuroinflammation, is particularly exciting. Myrobalan Therapeutics’ unique strategy holds great potential in overcoming the challenges associated with central nervous system disorders. We believe that their innovative R&D will bring about positive transformations for patients.”

Bencao Capital is a specialized investment fund dedicated to investing in globally leading life sciences and healthcare companies. It focuses on high-barrier, hard-tech innovations in life sciences, including innovative pharmaceuticals and next-generation medical devices, diagnostics, and life science tools driven by cross-disciplinary innovation. The core founding team consists entirely of PhD holders in biomedical fields from overseas institutions, boasting years of practical experience in the pharmaceutical and biotechnology industries, as well as over a decade of successful investment and entrepreneurial experience both domestically and internationally. The team combines professional expertise, industry experience, and a global perspective.

Bencao Capital is a dual-currency fund manager operating in both RMB and USD. It has cumulatively invested in and incubated over 90 innovative healthcare enterprises domestically and internationally, with offices in Beijing, Shanghai, and Silicon Valley. Upholding the vision of “building great healthcare companies and establishing an internationally recognized professional investment brand,” Bencao Capital empowers outstanding entrepreneurial teams and delivers superior returns to its investors.