- Forbion led the Series A financing to support the development of Progentos’ lead program in multiple sclerosis along with additional pipeline programs
- Progentos Therapeutics is developing novel small molecules to induce de-novo remyelination in patients suffering from multiple sclerosis and other demyelinating diseases.
- Dmitrij Hristodorov, PhD, General Partner, and Marc-Olivier Turgeon, PhD, Senior Associate, will join the Board of Directors
Naarden, The Netherlands, May 21, 2024 – Forbion, a leading life sciences venture capital firm, announced today the $65 million Series A financing of Progentos Therapeutics (“Progentos”), a new biotech company focused on the treatment of degenerative diseases with a lead program in multiple sclerosis. Forbion led the financing and is joined by Alta Partners, Mission BioCapital, Longwood Fund, and Dolby Family Ventures. As part of the investment, Dmitrij Hristodorov, General Partner, and Marc-Olivier Turgeon, Senior Associate at Forbion, will join the Progentos Board of Directors.
The company aims to address the critical unmet need of functional restoration in various CNS diseases. Progentos’ lead program comprises a first-in-class small molecule that is designed to induce differentiation of oligodendrocytes and remyelination of axons affected by MS.
We are truly excited to be part of Progentos’ journey towards delivering potentially disease-modifying drugs for diseases like multiple sclerosis - diseases with high unmet clinical needs. Chris and Sanjay are bringing a high level of technical expertise, entrepreneurship, and leadership and we are honored to support them in this endeavor.
Dmitrij Hristodorov.
In addition to the stellar team, the strength of science behind Progentos’ molecules has convinced us to support the company. The current financing round will allow the company to reach significant value inflection points, including clinical data.
Marc-Olivier Turgeon
The Company will be led by its founders, Chief Executive Officer Chris Loose, Ph.D, and Chief Scientific Officer Sanjay Magavi, Ph.D. “I am grateful for the support of Forbion who helped us bringing together an outstanding group of investors into the syndicate,” said Chris Loose, CEO of Progentos.