Aspen Neuroscience, a biotech developing the first autologous neuron replacement for Parkinson’s disease, is seeing double, as investors have flooded the company's series B with $147.5 million following an initial $70 million round two years ago.
The private neurodegenerative disease biotech’s second funding round was co-led by venture capital firm and Alphabet spin-out GV, LYFE Capital and Revelation Partners. Additional new investors include Newton Investment Management, EDBI, LifeForce Capital, Medical Excellence Capital Partners, Mirae Asset Capital, NS Investment, among others.
The funds significantly supersede Aspen’s initial $70 million in 2020, though the biotech’s mission remains the same: develop transformational treatments for hard-to-treat neurodegenerative diseases. Aspen’s induced pluripotent stem cell-derived cell therapy platform creates personalized cell replacements using a patient’s own cells, eliminating the need for immunosuppressive therapy.
Now, the biotech has the cash needed to support planned studies of ANPD001, its lead candidate for Parkinson’s disease, according to a May 9 release. Efforts include a patient screening cohort study, announced in April, with multiple clinical screening sites planned across the U.S. The patient screening is a preliminary step to file an investigational new drug application—and if okayed by the FDA, the biotech will move the drug candidate to a Phase 1/2a clinical trial.
The screening launch comes nearly six months after the biotech tapped Xiaokui Zhang, Ph.D., as chief scientific officer. Before Aspen, she served as the executive vice president and chief scientific officer at Celularity, and has past experience working at Celgene Cellular Therapeutics and Helicon Therapeutics. Zhang leads current scientific programs and will direct future platform and pipeline investments for the autologous platform company.