So far, the total capital invested in Prilenia since its foundation in September 2018 stands at $84.5m. Credit: Michal Jarmoluk from Pixabay.

Clinical stage biotechnology firm Prilenia Therapeutics has raised $62.5m through a Series A financing round to launch the company’s planned Huntington’s disease (HD) and amyotrophic lateral sclerosis (ALS) late-stage clinical trials.

The financing round was led by Forbion, with the participation of new investors Morningside Venture Investments and Sectoral Asset Management and existing investors Talisman Capital Partners and Genworks 2.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

With the latest financing, the total capital invested in Prilenia since its foundation in September 2018 has reached $84.5m.

Besides the funding round, Prilenia has also announced the appointment of Michael R Hayden as the company’s CEO.

Commenting on the Series A financing round, Michael R. Hayden said: “Having such renowned investors Forbion, Morningside and Sectoral join us on this important journey is important validation of the team and our development programme.

“With this funding, we will be able to complete two critical clinical trials in disease areas with significant unmet need. We believe we have the opportunity to bring real hope to HD and ALS patients and their families and we are keen to accelerate our progress.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Proceeds generated from the financing round will be used to fund two late-stage trials, which could lead to the registration of pridopidine used HD and ALS treatment.

Forbion managing partner and co-founder Geert Jan Mulder said: “We are convinced that pridopidine has the potential to seriously impact these intractable diseases. The more we have scrutinised the programme, the more excited we have become.

“We look forward to continuing to work with Prilenia’s outstanding management team, as well as the new and existing investors to help drive it to success.”