UCL spinout launches with $101 million funding for motor neurone disease treatments

In one the largest biopharma Series A rounds in recent years, the financial boost will assist scientists at UCL and Stanford University, US, in developing a treatment for amyotrophic lateral sclerosis (known as ALS), which affects 5,000 people in the UK, and currently has few treatment options. The disease affects brain and spinal cord by attacking the neurons and nerves which control movement, causing them to die.

Trace Neuroscience was founded on the simultaneous “breakthrough discovery” at UCL and Stanford that the loss of a protein called UNC13A is a driver of disease progression in nearly all people with motor neurone disease, leading to wasting, paralysis and eventual death from respiratory failure within three to five years.

With this funding boost Trace Neuroscience will now work to develop genomic therapies to restore the production of the UNC13A protein, and re-establish healthy communication between nerves and muscle cells impacted by neurodegenerative disease.

Trace Neuroscience co-founder Professor Pietro Fratta (UCL Queen Square Motor Neuron Disease Centre, UCL Queen Square Institute of Neurology) said: “UNC13A is critical for neurons to communicate amongst each other and with muscles and is lost in nearly all ALS cases. Being able to re-establish this is groundbreaking.

“This large funding round is pivotal for us to rapidly translate this science into a life-changing medicine and advance our lead programme towards the clinic.”

Eric Green, co-founder and CEO of Trace Neuroscience, said: “Trace Neuroscience was founded on the breakthrough discovery that loss of UNC13A is a driver of disease in nearly all people with ALS.

“We have now brought together academic leaders, experienced drug developers and a leading syndicate of investors committed to urgently turning this discovery into a medicine.”

Trace Neuroscience licensed intellectual property exclusively from UCL as part of the company formation, and the $101 million USD financing was led by Third Rock Ventures and included participation from Atlas Venture, GV and RA Capital Management.

UCL Business (UCLB) - the commercialisation company for UCL – supported the academic team working closely to protect the intellectual property and with the Third Rock and Trace teams facilitating the collaboration with Professor Fratta and his team at UCL.

Caitriona O’Rourke, Business Manager at UCL Business (UCLB), said: “This Series A funding round indicates investors’ excitement for UNC13A as a therapeutic target and commercial applications for this novel therapeutic. We share this excitement and are proud to support Professor Fratta and the entire Trace Neuroscience team as they move this candidate from the lab into the clinic and hopefully to the market.”

Links 

• Professor Pietro Fratta's academic profile
• UCLB
• Queen Square Motor Neuron Disease Centre

Image

• Featured image: 'Conceptual illustration of neuron cells with glowing link knots', credit Rost-9D on iStock