Penn spinout Innervace has raised up to $40 million to support its new disease-modifying technology for Parkinson’s patients.
The funds will allow Innervace to advance their platform and lead asset in Parkinson’s disease, which aims to reconstruct the neuronal circuitry that is lost in Parkinson’s patients. The funding will also help Innervace to license a subtype of dopaminergic neurons, called group A9 dopaminergic cells, which are the most affected in Parkinson’s.
The biotech startup was initially developed by two professors of neurosurgery at the Perelman School of Medicine, D. Kacy Cullen and Douglas Smith.
At its start, Innverace participated in the Penn I-Corps program, where their team learned to test and validate their startup idea and connect with potential customers. Innervace also currently participates in the PCI Ventures Services UPadvisors program, which is designed to help entrepreneurs or teams to understandthe process of creating and running a company.
To learn more about Innervace and its recent funding, read here.