Rodin Secures $12.9M Series A Financing to Develop Novel Treatments for CNS Disorders
CAMBRIDGE, Mass., May 29, 2014-- Rodin Therapeutics, Inc., a biotechnology company applying insights of epigenetics to novel therapeutics for neurological disorders, has closed a $12.9M Series A financing round. Current investors Atlas Venture and Johnson & Johnson Development Corporation (JJDC) led the financing round. Rodin will use the new funds to advance its pipeline of selective epigenetic modulators towards the clinic.
“Rodin has spent the last year validating the thesis that an unique chemistry approach, high potential biology, and a strong team could drive generation of compelling therapies for CNS diseases,” said Bruce Booth, Rodin’s Chairman and acting CEO, and a Partner at Atlas Venture. “The Series A investment is a culmination of our efforts over the last 12 months to start a preeminent company in the field.”
The Rodin approach is the product of a strategic partnership with Proteros, a founding shareholder in Rodin. Proteros’ capabilities in structure-accelerated lead discovery enables an orthogonal evaluation of the interactions of small molecules as they bind to key epigenetic targets.
Since its inception in March 2013, Rodin has advanced its internal pipeline of epigenetic modulators and obtained an exclusive license to an additional chemical series developed at the Broad Institute and tested at Rodin.
The company has also assembled an esteemed Scientific Advisory Board, chaired by Li-Huei Tsai, Professor at the Massachusetts Institute of Technology. “Epigenetic modulators have the potential to be a powerful addition to the therapies we have to treat Alzheimer’s disease and other disorders of cognition,” said Dr. Tsai. “I am delighted to be working with Rodin on the advancement of these therapies.”
Additional members of the SAB include Jeffrey Nye of Johnson & Johnson Innovation, Marcelo Wood from the University of California, Irvine, Lisa Monteggia from the University of Texas Southwestern, Andre Fischer from the University of Gottingen, Ed Holson of the Broad Institute, and Stephen Haggarty from the Massachusetts General Hospital.
The Rodin team is led by Marty Jefson, Chief Scientific Officer, Ankit Mahadevia, Acting Chief Business Officer and Venture Partner at Atlas Venture, and Bruce Booth. Barbara Tate, formerly of Satori Pharmaceuticals and Pfizer, has joined the team as Head of Biology, and several experts on the Proteros team continue to complement Rodin’s efforts. Dr. Booth will continue to represent Atlas Venture as Chairman of the Board; Marian Nakada will continue to serve as the JJDC representative and Torsten Neuefeind will serve as the Proteros representative.
About Rodin Therapeutics
Rodin Therapeutics is discovering and developing first in class therapeutics for cognitive disorders, applying unique insights into the role of epigenetics and best in class structural biology capabilities. Applying Rodin’s unique access to the Proteros structural biology platform and deep experience in CNS drug development, the company has identified high potential targets and novel chemical strategies to address high unmet clinical needs. Rodin was co-founded by Atlas Venture and Proteros Biostructures, with financing from the Johnson & Johnson Development Corporation (JJDC).
About Atlas Venture
Atlas Venture is an early-stage venture capital firm that invests in technology and life sciences businesses. Since inception, its partners have helped build more than 400 companies. Atlas is currently investing from its ninth fund and manages approximately $2B in committed capital. For more information, visit www.atlasventure.com.
Proteros, Martinsried/Munich, is a privately held company, which provides a leading platform to support protein structure accelerated drug discovery. Proteros has established unique and best in class technologies for protein crystallography, kinetic and thermodynamic profiling and tailor made protein production. Proteros provides services to more than 80 pharmaceutical and biotechnology clients in North America, Europe and Asia. For more information visit www.proteros.com
About Johnson & Johnson Development Corporation
Johnson & Johnson Development Corporation (JJDC) is the venture capital subsidiary of Johnson & Johnson, with investment activity in the medical device, diagnostic, pharmaceutical, and consumer health areas. JJDC’s goal is to create opportunities that meet the strategic needs of its operating affiliates while providing visibility to innovative emerging technology, businesses and business models. JJDC invests in companies across the continuum from early stage seed investments to the advanced stages of series venture management.
Matt Burke, 603-315-0618
Venture Capital Database