Goldenrod Therapeutics announced the closing of a $6.5 million seed financing round that will support studies needed to advance its lead therapy into clinical trials in 2027. The company is developing treatments for brain inflammation associated with a range of debilitating and neurodegenerative conditions.
The startup was established in 2023 with support from UNeMed, the technology transfer and commercialization office of the University of Nebraska Medical Center (UNMC). Goldenrod’s core technology is 11h, a molecule developed by Corey Hopkins, PhD, at the UNMC College of Pharmacy. The compound inhibits phosphodiesterase 4 (PDE4), a protein linked to inflammatory diseases including chronic obstructive pulmonary disease, rheumatoid arthritis, inflammatory bowel disease, schizophrenia, drug addiction, Alzheimer’s disease, multiple sclerosis, ALS, and Batten disease.
According to the company, existing PDE4-targeting therapies are limited by significant side effects and poor penetration into the central nervous system. Dr. Hopkins’ compound demonstrated improved brain uptake while reducing the risk of adverse effects such as nausea and vomiting. The seed financing was led by Ataxia Ventures and an affiliate of Fannin Partners.
UNeMed structured the licensing framework for the technology, and officials at the University of Nebraska Medical Center said the financing underscores the value of the institution’s drug discovery efforts and the role of its Center for Drug Design and Innovation in developing new therapies.
KEY QUOTES:
“It is exciting and gratifying to see your work possibly improve someone’s life. For 11h, its progress means a lot because of all the effort put in by students and postdocs over the years. So, it’s fantastic that their hard work is getting closer to actually helping patients.”
Corey Hopkins, PhD, UNMC College Of Pharmacy
“Drug discovery is some of the most important work we do at UNMC, and investors place real value on new molecules and discoveries. A raise like this shows what our science is worth, and the Center for Drug Design and Innovation is at the heart of that effort. As our research enterprise grows, continued investment in drug discovery and development will be critical to our success creating and developing new therapeutics.”
Michael Dixon, PhD, President And CEO, UNeMed
“One of the things I love most about drug discovery is that you never know where a promising molecule might end up helping the most. This condition desperately needs new treatments, so it’s amazing to be closing that gap.”
Corey Hopkins, PhD, UNMC College Of Pharmacy
“This is what world-class drug discovery looks like, and it is happening right here at UNMC. Dr. Hopkins and his team have designed a molecule that overcomes a problem the pharmaceutical industry wrestled with for decades, and now a company has the capital to carry it into the clinic.”
Michael Dixon, PhD, President And CEO, UNeMed
“The scientific foundation established at [UNMC] and Fannin has positioned 11h as a potentially important advancement in CNS-targeted PDE4 inhibition, with potential relevance across a broader range of diseases.”
Tom Hamilton, Ataxia Ventures
