FoldRx Pharmaceuticals Secures $29 Million for Neurodegenerative Disease

FoldRx Pharmaceuticals has closed a $29 million financing deal to support a program in neurodegenerative disease. “With the addition of two top-tier venture firms to our already strong investor base, we believe we now have access to the resources necessary to commercialize tafamidis and build FoldRx into an independent, orphan-disease focused company,” said Richard Labaudini√®re, Ph.D., President and CEO of FoldRx, in a FierceBiotech release. FoldRx Pharmaceuticals is focusing on disease-modifying small-molecule therapeutics to treat diseases of protein misfolding and aggregation, key pathological processes for many chronic neurodegenerative diseases, including ALS.

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