Virtual biotech Keapstone Therapeutics is in line for a further £1 million investment from Parkinson’s UK to move forward its innovative disease-modifying therapeutic approach to motor neuron disease (MND) and Parkinson’s.
The Sheffield, UK-based business says it has completed all drug discovery milestones necessary for triggering the extra funds, which will bring the total seed investment in Keapstone to £2.4 million, from existing principal funding partners Parkinson’s UK and the University of Sheffield.
The company’s strategy is to utilise proprietary chemistry and biology to deliver CNS-penetrant molecules targeting disease-modifying mechanisms in these debilitating conditions.
Keapstone said it intends to use the new funds to complete certain preclinical packages and is “seeking to attract further investment to achieve clinical candidate selection and first-in-human studies”.
“We are delighted to have met our first scientific milestones and that Parkinson’s UK are continuing to support our research, confirming their commitment to this exciting programme and we look forward to continuing our partnership with them and progressing this program to the next stage,” noted co-founder Dr Richard Mead.
“This early scientific validation allows us to now engage with prospective biopharmaceutical partners and potential new investors.”
