- Aspen Neuroscience, a biotechnology company developing the first autologous neuron replacement therapy for treating Parkinson’s announced it raised $70 million
Aspen Neuroscience, a biotechnology company developing the first autologous neuron replacement therapy for treating Parkinson’s disease, announced it raised $70 million in Series A funding. OrbiMed led the investment round with participation from ARCH Venture Partners, Frazier Healthcare Partners, Domain Associates, Section 32, and Sam Altman.
The company’s first product ANPD001 is currently undergoing investigational new drug (IND)-enabling studies for the treatment of sporadic forms of Parkinson’s disease. And Aspen’s second product ANPD002 combines gene correction and autologous neuron therapy for the treatment of genetic forms of Parkinson’s disease.
Aspen utilizes proprietary AI-based genomics tools for comprehensive quality-control — which allows for a reduction in the time and cost of the manufacturing process required to produce a safe, reproducible, and personalized cell therapy.
The Series A funding round will support the completion of all remaining IND-enabling studies and FDA submission of the IND relating to Aspen’s lead product (ANPD001) as well as the recruitment and screening of a trial-ready cohort of persons with Parkinson disease and the manufacture of their cells for the lead product.
This funding round will allow the company to obtain meaningful data from the Phase 1 clinical study to show evidence of biological effect of the therapy and lay the foundation for the Phase 2 multi-center randomized controlled trial.
And the funding will also support the continued R&D pipeline — which includes autologous gene-corrected dopamine neurons for heritable forms of Parkinson disease risk (ANPD002) and programs that extend beyond dopamine neurons and explore the treatment of diseases marked by neuroinflammation.
“Our mission at Aspen Neuroscience is to develop a restorative, disease-modifying autologous neuron therapy for people suffering from Parkinson’s disease. We are dedicated to using a person’s own cells for replacement therapy and bringing best-in-class treatments to people suffering from Parkinson disease as rapidly as possible.”
-Aspen Neuroscience CEO Dr. Howard Federoff
“We are impressed by the progress Aspen has made to date against its goals to develop innovative therapies to treat Parkinson disease and encouraged by the broader investment community’s support of the company.”
-Jonathan Silverstein, Managing Partner of OrbiMed