Closely-held Lucy Therapeutics (LucyTX) raised $12.5 million in additional funding to further the company’s research programs for Alzheimer’s and Parkinson’s diseases and continue its development of a novel drug target for Rett syndrome.
The fresh capital, led by existing investors Engine Ventures and Safar Partners, is complemented by new participation from Bill Gates, Parkinson’s UK, and the Michael J. Fox Foundation, which provided a $2 million non-dilutive grant, bringing LucyTX’s total funding to date to more than $36 million.
In a statement, LucyTX founder and CEO, Amy Ripka, Ph.D., said that the company is identifying new drug targets based on a deep understanding of the chemical and biological interplay at work in disease and ultimately linking neurodegenerative disease to dysfunctional mitochondria. “This latest funding will advance our work pioneering a new class of therapeutics designed to address mitochondrial dysfunction and provide potentially curative treatments for people suffering from Alzheimer’s, Parkinson’s, and Rett syndrome.”
The funding announcement follows last fall’s secured funding from the International Rett Syndrome Foundation to develop new therapies for children and adults living with the disease. LucyTX has identified lead compound series for its Rett Syndrome and Parkinson’s drug discovery programs, defined translation target engagements, and identified disease biomarkers. The company plans IND filings for early 2025.
