Leal Therapeutics has raised a $30 million second close of its Series A financing and initiated a Phase 1b/2a clinical trial of LTX-001 in adults with schizophrenia. Eli Lilly joined the financing as a new investor. Existing investors OrbiMed, Newpath Partners, Euclidean Capital, SV Health Investors’ Dementia Discovery Fund, Chugai Venture Fund, Alexandria Venture Investments and PhiFund also participated.
The financing will advance LTX-001 through the initial readout from its newly initiated schizophrenia trial.
Initial Phase 1b/2a data are expected by year-end.
LTX-001 is a first-in-class, brain-penetrant oral GLS1 inhibitor.
The candidate previously completed single-ascending-dose and multiple-ascending-dose Phase 1 trials, where Leal reported a favorable safety and tolerability profile and dose-dependent central nervous system target engagement.
The new capital will also support additional dosing cohorts for LTX-002 in the ongoing NeurALS Phase 1/2 trial in adults with amyotrophic lateral sclerosis.
LTX-002 is an intrathecally delivered antisense oligonucleotide designed to restore healthy sphingolipid levels in the central nervous system by targeting SPTLC1.
Leal is developing neuro-metabolic therapies for central nervous system disorders and is also working on a next-generation CNS delivery platform using antibody-like shuttle technology.
KEY QUOTES:
“We are very excited to partner with our top-tier syndicate of investors which now includes Lilly. This funding will support us through key clinical milestones for LTX-001 in schizophrenia, including initial data from the now ongoing Phase 1b/2a trial, and LTX-002 in ALS, while also advancing our preclinical pipeline towards clinical development.”
Asa Abeliovich, M.D., Ph.D., Founder and Chief Executive Officer of Leal Therapeutics
