Lucy Therapeutics Inc., a U.S.-based developer of small-molecule drugs for central nervous system (CNS) diseases, has raised an additional USD 12.5 million in financing. The company is jointly incubated by China-based Contract Research Organization (CRO) VIVA Biotech Holdings (HKG: 1873). Existing investors Engine Ventures and Safar Partners spearheaded the funding round, which also saw participation from the Bill & Melinda Gates Foundation, Parkinson’s Disease Foundation, and Michael J. Fox Foundation.
With a total of USD 36 million in financing secured to date, Lucy Therapeutics plans to utilize the funds to strengthen its research efforts in Alzheimer’s and Parkinson’s disease, as well as to advance drug target development for Rett syndrome.- Flcube.com
