The University of Texas MD Anderson Cancer Center and Accelerator Life Science Partners, a leading life science investment and management firm, today announced the launch of Magnolia Neurosciences Corporation, a company developing a new class of neuroprotective medicines, with $31 million in Series A funding. The company will develop novel therapeutics based on discoveries made by researchers in MD Anderson’s Therapeutics Discovery division, including the Institute for Applied Cancer Science (IACS) and the Neurodegeneration Consortium (NDC).
“By developing new treatments, Magnolia Neurosciences will address a critical need for patients suffering from neurodegenerative conditions, such as Alzheimer’s disease and chemotherapy-induced neuropathy in cancer patients,” said Jim Ray, Ph.D., director of the NDC. “These conditions are driven by similar biological pathways, and it is our hope that we can improve the lives of patients across disease types based upon new drug candidates discovered by the MD Anderson Therapeutics Discovery team.”
Annually, more than 700,000 Americans with cancer are treated with chemotherapy, and many experience a variety of neural and cognitive impairments as a result of their treatment. More than 200,000 patients each year will suffer from a condition known as “chemobrain,” characterized by general cognitive and memory problems, which can last
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