Proteostasis Therapeutics secures $45 Mn in series A funding

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Cambridge: Proteostasis Therapeutics (PTI) has announced that it has secured $45 million in series A financing to develop Proteostasis Regulator drugs as novel therapies to treat multiple genetic and degenerative disorders associated with protein homeostasis deficiencies. Investors included in the round were HealthCare Ventures, Fidelity Biosciences, New Enterprise Associates, Novartis Option Fund and Genzyme Ventures.

According to Andrew Dillin, Ph.D., co-founder of PTI, "The Company has established a map of the Proteostasis Network, leading to breakthroughs in understanding how stress on the network, including aging, environmental and cellular stresses, can lead to the onset of multiple serious diseases."

"Our initial funding of PTI over a year ago provided the basis for this emerging area of science to mature so that it now offers the promise of new drug candidates entering the clinic in the next 3-5 years," said Christopher Mirabelli, Ph.D., Managing Director of HealthCare Ventures and Chairman of the Board of PTI.

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