Sans Biogen's $485 Million Buyout Option, Rodin Nabs $27 Million For Alzheimer's
Published: Sep 18, 2017
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Rodin Therapeutics, a biotechnology company discovering and developing novel therapeutics to boost synaptic resilience, announced today significant progress in advancing the company’s strategic vision, including the completion of a $27 million financing round, and the addition of three new members to its Board of Directors.
“We’re excited to partner with this world class team.”
The financing announced today will fuel the ongoing development of innovative product candidates designed to treat neurological disorders, such as Alzheimer’s disease and Parkinson’s disease. The financing round included returning investor Atlas Venture, with further participation from GV, Hatteras Venture Partners, Remeditex Ventures, and Third Point Ventures.
“Rodin Therapeutics is driven by a desire to develop innovative solutions that will have a profound impact on patients living with severe neurological diseases,” said Adam Rosenberg, President and CEO of Rodin. “We’ve made tremendous progress in advancing our proprietary compounds and establishing a novel translational approach to measuring pro-synaptic effects in a clinical setting. This funding is a testament to the strength of our team, and will help accelerate our programs towards clinical trials.”
Rodin’s discovery and development strategy is based on research demonstrating that synaptic loss and dysfunction is a primary pathology in Alzheimer’s and other neurological and neuropsychiatric diseases. Rodin is developing a novel set of brain-penetrant small molecule drugs designed to boost pathways that play a critical role in synaptic function while minimizing key safety concerns.
“Rodin is making incredible strides in realizing a transformative approach to neurological diseases that will allow us to potentially address diverse areas of unmet need and drastically impact the care of patients,” said Board Chairman Bruce Booth, DPhil., a partner at Atlas Venture, which co-founded, seeded, and incubated Rodin.
As part of the financing round, Rodin also added John W. Creecy (Remeditex), Jason Hong, Ph.D. (Third Point), and Clay Thorp (Hatteras) to its board of directors, joining Kees Been, Booth, Rosenberg and Samantha Singer.
“Rodin’s approach to boosting synaptic resilience has significant potential to benefit patients living with neurodegenerative diseases, as well as neuropsychiatric disorders such as schizophrenia and post-traumatic stress disorder,” said Ben Robbins, M.D., venture partner at GV and board observer at Rodin. “We’re excited to partner with this world class team.”
About Rodin Therapeutics
Rodin Therapeutics is discovering and developing first in class therapeutics for neurological disorders, applying unique insights into the role of epigenetics and novel chemical strategies to target specific HDAC complexes. Rodin’s unique translational strategy, along with a targeted approach to synaptic resilience, has potential for multiple phenotypically diverse diseases – such as Parkinson’s disease, Alzheimer’s disease, Frontotemporal dementia, post-traumatic stress disorder and traumatic brain injury - which all share the common root cause of impaired neuronal and synaptic function.
Scott Zoback, 860-922-6397