Rheostat Therapeutics, a biotech company focused on the discovery of novel treatments for neurodegeneration, cognition and rare diseases, recently announced the close of a Series A financing round totaling $23 million. Proceeds will be used to advance the company’s programs towards clinical trials, build its internal team and expand studies evaluating biomarkers. Goodwin’s Life Sciences team advised Rheostat.
The round was co-led by MRLV and AbbVie Ventures, and included Amgen Ventures, Alexandria Venture Investments and Mayo Clinic.
Rheostat is working to develop novel treatments for neurodegenerative disease through modulation of mitophagy and autophagy. Its central thesis is that the degradation of toxic cellular components is a fundamental node of biology. The mutations that impair these clearance pathways have been linked with multiple neurodegenerative diseases, many of which are associated with cognitive impairment like Parkinson’s disease. The company is working to leverage its understanding of these pathways to discover and develop novel small molecules that will restore cellular balance and treat neurodegenerative and rare diseases.
For additional details, please read the company’s press release.