Cambridge biopharma company Wren Therapeutics has raised a further $17 million growth capital, taking its haul to date to $45m. The new money will be used to accelerate technology development.
Wren is pioneering a unique network kinetics approach to drug discovery for protein misfolding diseases. It has also broadened its target area to include cancer.
The financing was led by existing shareholder The Baupost Group, with participation from existing backers including LifeForce Capital and new investors including Schooner Capital and Industry Ventures.
Wren CEO Dr Samuel Cohen said: “This support from both our existing as well as our new shareholders will accelerate the advancement of our two lead small molecule programs towards the clinic for the potential treatment of Alzheimer’s disease and various synucleinopathies including Parkinson’s disease.
“The new capital, alongside our recently announced collaboration with Eisai, is a further endorsement of our unique chemical kinetics platform that has been industrialised by the Wren team over the previous four years, building on more than a decade of prior academic research.
“Our mission is to radically advance drug discovery for a wide range of protein misfolding diseases by creating molecules that will offer transformative therapeutic options for millions of patients globally suffering from these increasingly common medical disorders.”
Both the board and senior management have been strengthened for the fresh surge in activity. The company has significantly expanded its scientific and business operations team.
Wren is a spin-off company from the University of Cambridge and Lund University in Sweden.
•Photograph: Dr Samuel Cohen / courtesy – University of Cambridge