The company is developing new PKR kinase inhibitor-based therapies for neurodegenerative diseases including Alzheimer’s disease.
ProteKt Therapeutics today announced the signing of a binding agreement for a $3.6 million equity financing round co-led by Fonds de Solidarité FTQ and Bukwang Pharmaceutical together with existing investors FutuRx, OrbiMed, Johnson & Johnson Innovation - JJDC, Inc., Takeda Ventures, Inc. and RM Global Partners (RMGP) BioPharma Investment Fund. Based in Ness Ziona, the company is developing new PKR kinase inhibitor-based therapies for neurodegenerative diseases including Alzheimer's disease.
Proceeds from the financing will be used primarily to select a lead drug candidate molecule and validate its neuro therapeutic effects in vivo. The company also plans to initiate the clinical development of a related diagnostic assay for patient selection and treatment personalization.
