A pioneering biotech firm, backed by UCL, is making strides in ALS treatment by securing £79 million in funding.
- Trace Neuroscience, founded by experts from UCL and Stanford, focuses on restoring crucial neural proteins.
- The Series A funding, led by prominent venture capital groups, marks a notable investment in the healthcare sector this year.
- Their research targets the protein UNC13A, which is vital for neuron communication and is often diminished in ALS patients.
- This funding will help progress the development of this potentially life-changing ALS therapy towards clinical application.
A pioneering biotech firm has emerged with the ambition to transform amyotrophic lateral sclerosis (ALS) treatment, securing a substantial £79 million in Series A funding. The company, Trace Neuroscience, is leveraging technology from University College London (UCL) to develop new treatments aimed at restoring key neural proteins. Co-founded by molecular neuroscience professor Pietro Fratta from UCL and genetics professor Aaron Gitler from Stanford University, Trace Neuroscience is at the forefront of neurogenetic research.
Their primary focus is the development of nucleic acids intended to renew production of UNC13A, an essential protein for neuronal communication within the brain and spinal cord. In ALS, commonly known as motor neuron disease, the production of UNC13A declines, leading to impaired neuron function and progression of the disease. According to Fratta, “UNC13A is critical for neurons to communicate amongst each other and with muscles and is lost in nearly all ALS cases.” Restoring this protein could significantly alter the course of treatment for ALS, a condition where most patients face a life expectancy of just five years post-diagnosis.
The £79 million funding round, one of the most significant in the health tech industry this year, was spearheaded by Third Rock Ventures, with additional investments from Atlas Ventures, GV, and RA Capital Management. This infusion of capital not only highlights investor confidence in Trace Neuroscience’s approach but also in the commercial viability of UNC13A as a therapeutic target.
Trace Neuroscience was established through an exclusive licensing agreement with UCL, enabling the firm to exclusively tap into UCL’s intellectual property and leverage its scientific breakthroughs for commercial development. Caitriona O’Rourke, business manager at UCL Business, reflects on this enthusiasm, stating, “This Series A funding round indicates investors’ excitement for UNC13A as a therapeutic target and commercial applications for this novel therapeutic.” The promising support from investors and academic institutions underscores the potential impact of these scientific advancements.
The substantial funding is anticipated to accelerate the transition of Trace Neuroscience’s lead program from laboratory research to clinical trials. This leap into the clinical phase embodies a significant step forward in the pursuit of effective treatments for ALS, potentially offering hope where there was little before.
The successful funding and strategic alliances position Trace Neuroscience to make significant advancements in ALS research and treatment.
