BIOTECH ASPEN LANDS $147M FOR PARKINSON’S THERAPY
San Diego company has developed a process that uses a patient’s own cells
Aspen Neuroscience, a San Diego biotech that’s developing cell replacement therapy to treat Parkinson’s disease, has raised $147.5 million in its second round of venture capital funding.
The investment brings the total amount raised by Aspen, which came out of stealth mode 2½ years ago, to more than $220 million. Based on research by scientist Jeanne Loring, the company’s cofounder and professor emeritus at Scripps Research Institute, the treatment aims to deliver cell therapy for Parkinson’s using a patient’s own stem cells, rather than donor cells.
While cell therapies for Parkinson’s show promise for regeneration — not just treating the symptoms — there’s a debate on whether therapies derived from a patient’s own cells are the best path, or whether donor cells would be more cost-effective.
Aspen Neuroscience is betting on the patient’s own cells. They are obtained via a skin biopsy — skin stem cells are active through life for healing — and induced into what’s known as pluripotent stem cells, which means they have the capacity to change into specialized cells.
Aspen has developed a procedure for turning these pluripotent stem cells into dopamine-releasing neurons, which then would be introduced back into the patient in hopes of replacing neurons damaged by Parkinson’s.
Before that, however, each patient’s stem-cell-derived dopamine neurons would be evaluated for effectiveness using proprietary artificial-intelligence-based genomics
tools.
“We combine stem cell biology with innovative AI/ bioinformatic and manufacturing tools to develop patient-specific approaches,” said Damien McDevitt, Ph.D. and chief executive of Aspen Neuroscience.
Without dopamine, nerve cells have difficulty communicating with muscles. By using a patient’s own cells, Aspen believes it can eliminate the need for immune-suppressive therapy.
Parkinson’s affects around 1 million Americans and 10 million people worldwide.
The funding will be used for upcoming studies, including a patient screening study and the upcoming Phase 1/2a clinical trial, subject to U.S. Food and Drug Administration clearance.
GV — formerly Google Ventures — LYFE Capital and Revelation Partners led the latest funding round.
Other new investors include Newton Investment Management, Singaporebased EDBI, LifeForce Capital, Medical Excellence Capital Partners, Mirae Asset Capital, NS Investment and others. Existing investors OrbiMed, ARCH Venture Partners, Frazier Life Sciences, Section32 and Alexandria Venture Investments also participated.
As part of the financing, Doug Fisher of Revelation Partners will join the board of directors.