Elevian Raises $40 Million Series A to Advance Treatments for Stroke Recovery and Age-Related Diseases
Funding round led by Prime Movers Lab
ALLSTON, Mass., Sept. 16, 2021 /PRNewswire/ -- Elevian, an emerging biotech company developing medicines that restore youthful regenerative capacity with the potential to treat and prevent multiple age-related diseases, today announced that it raised $40 million in an oversubscribed Series A round led by Prime Movers Lab. The funding will enable Elevian to submit an investigational new drug application, scale manufacturing and complete Phase 1 clinical trials for its lead indication of stroke recovery.
Elevian has a pipeline of assets related to growth differentiation factor 11 ("GDF11") that restore the body's natural regenerative capacity and address root causes of many age-related diseases. The most advanced program uses recombinant GDF11 to enhance stroke recovery, a largely unmet need and multi-billion dollar opportunity. Strokes are the second leading cause of death worldwide and the top cause of disability. There are almost a million strokes a year in the US and currently no approved drugs to support or improve functional recovery. Preclinical data shows that GDF11 treatments significantly improve recovery after stroke in both ischemic and hemorrhagic models by promoting vascular repair, reducing inflammation, and stimulating neurogenesis.
In addition to promoting recovery post-stroke, GDF11 has a variety of beneficial effects in animal models, including improving glucose metabolism, treating obesity, reducing age-related cardiac hypertrophy, accelerating skeletal muscle repair, and improving exercise capacity.
"Our research suggests that, by targeting fundamental and common underlying mechanisms of aging as opposed to a specific disease, it may be possible to treat and prevent multiple age-related diseases, thus improving healthspan," Elevian CEO and Co-founder Dr. Mark Allen said. "The support and commitment from our new and existing investors like Prime Movers Lab demonstrate confidence in Elevian's research and vision to harness the GDF11 pathway."
"Stroke bears a terrible human cost, and most treatments are band-aids at best. Elevian's novel approach could be transformational and bring hope to the millions of stroke victims around the world every year," said Prime Movers Lab Partner and Elevian Board Member Caleb Bell, PhD. "We think Elevian's unique technology will lead to breakthrough discoveries not only for stroke but for a number of other age-related diseases, as well."
Additional investors include Bold Capital, Leslie Ventures, John A Kuelbs Family Office and others. As part of the financing, Prime Movers Lab General Partner Brandon Simmons will join Bell on the board of directors.
About Elevian
Elevian is an emerging biotech company developing medicines that restore youthful regenerative capacity, with the potential to treat and prevent multiple age-related diseases. Elevian's scientific founders, working at the Harvard Department of Stem Cell and Regenerative Biology, discovered that treatment with the circulating factor GDF11 can regenerate the heart, brain, muscle and other tissues. Elevian has acquired exclusive, worldwide rights to Harvard's patent portfolio concerning GDF11. The company is developing new medicines that target the GDF11 pathway. Elevian's lead drug candidate (recombinant human GDF11) has demonstrated efficacy in preclinical models of stroke, obesity, Type 2 diabetes, heart failure, Alzheimer's disease, and many other age-related diseases. The company has also established additional programs focused on the discovery and development of novel proteins, antibodies and small molecule drugs that target the GDF11 pathway. For more information, please visit www.elevian.com
About Prime Movers Lab
Prime Movers Lab invests in breakthrough scientific startups founded by Prime Movers, the inventors who transform billions of lives. We invest in companies reinventing energy, transportation, infrastructure, manufacturing, agriculture and human augmentation. Portfolio investments span in-space transportation, industrial solar heat, ag tech, brain upgrades, nano-structured materials, wafer slicing, prosthetics, 3D printing, mobility, longevity and AI. For more information, please visit www.primemoverslab.com.
Media Contact
Gavin Mathis
Partner, Prime Movers Lab
[email protected]
SOURCE Elevian
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