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Wren Therapeutics raises £12.4m in latest financing round
26th January 2021
Cambridge, UK-based biopharmaceutical company Wren Therapeutics has completed the closing of £12.4m financing, taking its total capital raised to date to around £33m.
The latest financing round was led by the company’s existing shareholder The Baupost Group, with new investors including Schooner Capital and Industry Ventures. Other existing investors, including LifeForce Capital, also participated.
Wren, a spin-off company from both the University of Cambridge in the UK and Lund University in Sweden, is focused on drug discovery and development for the treatment of protein misfolding diseases.
The company has utilised the capital raised so far to advance its lead small molecule programmes, targeting amyloid-beta and alpha-synuclein – with the first clinical candidate for amyloid-β set for Q1 2021.
Posted on 7440
Wren Therapeutics Ltd., (“Wren”), a biopharmaceutical company pioneering a unique network kinetics approach to drug discovery for protein misfolding diseases, today announced the closing of a £12.4 million (c. $17.0 million) financing.
This financing brings the total capital raised to date to approximately £33 million (c. $45 million). The financing was led by existing shareholder The Baupost Group, with participation from existing investors including LifeForce Capital and new investors including Schooner Capital and Industry Ventures.
Dr. Samuel Cohen, Chief Executive Officer of Wren, commented: “This support from both our existing as well as our new shareholders will accelerate the advancement of our two lead small molecule programs towards the clinic for the potential treatment of Alzheimer’s disease and various synucleinopathies including Parkinson’s disease.”
Press release content from Business Wire. The AP news staff was not involved in its creation.
Wren Therapeutics Announces Financing of £12.4 Million (c. $17.0 Million)
January 25, 2021 GMT
CAMBRIDGE, United Kingdom (BUSINESS WIRE) Jan 25, 2021
Wren Therapeutics Ltd., (“Wren”), a biopharmaceutical company pioneering a unique network kinetics approach to drug discovery for protein misfolding diseases, today announced the closing of a £12.4 million (c. $17.0 million) financing.
This financing brings the total capital raised to date to approximately £33 million (c. $45 million). The financing was led by existing shareholder The Baupost Group, with participation from existing investors including LifeForce Capital and new investors including Schooner Capital and Industry Ventures.
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