Celosia Therapeutics secures $16.75m in Series A for ALS treatment
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The news: Sydney-based biotechnology company Celosia Therapeutics has secured $16.75 million in Series A funding to advance its breakthrough gene therapy treatment for amyotrophic lateral sclerosis (ALS).
The funding round was led by research commercialisation fund Uniseed, with significant investment from hedge fund manager and ALS patient Iomar Barrett, and support from UniSuper.
The numbers: The $16.75 million Series A raise is one of the largest for an Australian biotech startup. The company was initially launched in 2022 with more than $2 million in seed funding from Macquarie University.
The context: Celosia Therapeutics' lead candidate, CTx1000, is a novel gene therapy targeting the TDP-43 protein linked to ALS pathology. The treatment has shown potential to halt disease progression and reverse damage in preclinical trials.
What they said: "This landmark investment is a huge boost for the biotech sector, and not only validates Celosia's innovative approach but also positions Australia at the forefront of global ALS research," Celosia Therapeutics chief executive Dr Kathryn Sunn said..
Barrett said: "The CTx1000 program and Celosia team represent a realistic pathway to finding a cure for ALS, and I am glad to be a part of this journey".
The source: Celosia Therapeutics press release
