MindImmune Therapeutics has expanded its Series A financing to $30 million and appointed life sciences entrepreneur Isaac Stoner as its new Chief Executive Officer, marking a significant milestone for the neuroinflammation-focused biotechnology company. The $10.2 million extension adds to earlier Series A commitments from a syndicate that includes Dolby Family Ventures, Pfizer Ventures, Gates Frontier, Slater Technology Fund, RightHill Ventures, the Foundation for a Better World, and other investors. Alongside the leadership transition, Stoner and Reetika Bhardwaj of Dolby Family Ventures will join the company’s Board of Directors.
The Rhode Island- and Massachusetts-based company is developing therapies that target immunological drivers of neurodegenerative diseases, with proceeds from the raise directed toward advancing its lead monoclonal antibody candidate, MITI-101, into Phase 1 clinical trials. MITI-101 is designed to stop harmful peripheral immune cells from entering the brain and driving inflammation associated with Alzheimer’s disease progression.
MindImmune’s founding CEO Stevin Zorn will transition to Chief Scientific Officer while continuing to guide scientific strategy. Stoner brings more than 18 years of experience across biotechnology startups and venture organizations, including Octagon Therapeutics, Firefly BioWorks, Ion Torrent Systems, PureTech Health, and multiple venture and academic innovation programs. He also holds degrees from Brown University and MIT Sloan School of Management.
Investors pointed to MindImmune’s differentiated approach to targeting neuroinflammation as a driver of confidence in the expanded financing. The company believes MITI-101 has the potential to reshape therapeutic strategies for Alzheimer’s and other neurodegenerative disorders by blocking upstream mechanisms that trigger immune-driven damage to synapses and blood vessels.
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“Dr. Zorn and his co-founders have made a fundamental discovery that will change how we think about neurodegenerative diseases. MindImmune’s therapeutic programs have the potential to dramatically benefit Alzheimer’s patients by targeting the underlying inflammatory processes that damage synapses and blood vessels in the brain. I feel fortunate to be leading this talented company as we advance an important first-in-class therapeutic into clinical development.”
Isaac Stoner, Chief Executive Officer, MindImmune Therapeutics
“We’ve been deeply impressed by the progress MindImmune has made since our initial investment, and we believe that Isaac is well positioned to lead MindImmune as the company grows. The company’s novel approach to modulating neuroinflammation has the potential to change the treatment paradigm for Alzheimer’s and other neurodegenerative diseases.”
Reetika Bhardwaj, Principal, Dolby Family Ventures
