Despite all the market turmoil, there are a slew of new investment rounds to report this morning.
It may be getting harder to raise venture capital, but Cambridge, MA-based Link Medicine nevertheless reported raising $40 million to launch clinical studies of its experimental medication for Alzheimer's and Parkinson's. Clarus Ventures and SV Life Sciences led the round. Link was founded in 2005.
Building on the work of CSO Peter Lansbury, Link has been working on therapeutics that can influence the buildup of incorrectly folded and toxic proteins in nerve cells--a process at work in a number of neurodegenerative diseases. A second therapy in the company's pipeline was licensed from an unnamed pharma company.
The Boston Globe reports that the funding comes despite a 15 percent drop in the amount of venture capital Massachusetts companies were able to fetch from investors in the first half of this year.
- check out the Link Medicine release
- read the report from the Boston Globe
ALSO: Switzerland's Telormedix raised $19 million in its Series A. The biotech is working on immunotherapeutic. Telormedix release
PLUS: Nitec Pharma closed a CHF 24M financing round led by new investor TVM Capital. Nitec Pharma release