Accelerator Life Science Partners (USA), a life science investment and management firm, announced that it has launched Magnolia Neurosciences Corporation, a company developing a new class of neuroprotective medicines.
Co-founded by Accelerator and The University of Texas MD Anderson Cancer Center (Houston, USA), the company will further develop discoveries made by scientists in MD Anderson’s Therapeutics Discovery division and the Neurodegeneration Consortium (NDC).
Investors participating in the $31 million financing include AbbVie, Eli Lilly, Johnson & Johnson, Pfizer, WuXi AppTec and others.
Neurodegenerative diseases and neuronal injury affect nearly 20 million individuals in the United States alone, and their incidence is expected to increase as the population ages. During embryonic development, excess neurons are eliminated by a process called programmed cell death. Research indicates that this tightly controlled process becomes re-activated in critical brain regions in Alzheimer’s disease and other neurological conditions. Blocking specific components of this process preserves brain tissue and leads to enhanced memory in animal models, suggesting that drugs targeting these key steps could maintain neural function.
Magnolia Neuroscience is built upon the expertise of scientists at MD Anderson, one of the world’s most respected cancer centers focused on patient care, research, education and prevention. With a comprehensive approach to improving patient care, scientists from MD Anderson and the NDC are focused on developing life-saving transformational medicines for patients in need of neuroprotective therapies, including those with Alzheimer’s disease and cancer.