QurAlis Corporation is a clinical-stage biotechnology company that focuses on developing precision medicines for amyotrophic lateral sclerosis (ALS) and other neurodegenerative diseases. The company recently closed an oversubscribed $88 million Series B financing, bringing the total funds raised to $143.5 million.
The financing was led by EQT Life Sciences, Sanofi Ventures, and Droia Ventures, with participation from several other investors, including Amgen Ventures and Mission Bay Capital.
“This financing reflects significant investor confidence in the science behind QurAlis’ next-generation precision medicines, world-class team, and commitment to bringing new therapies to patients suffering from ALS and other neurodegenerative diseases,” said Anne C. Whitaker, chair of QurAlis’ board of directors.
“We are fortunate to be funded by this outstanding group of investors who share our commitment to patients with neurodegenerative diseases and our vision to halt disease progression and significantly improve outcomes,” said Kasper Roet, Ph.D., CEO and co-founder of QurAlis. “This financing round recognizes our scientific track record and will help us advance the clinical development of our two lead programs in ALS and robust pipeline through near-term value-creating milestones. We are breaking through the barriers of science in our quest to bring much-needed precision therapies to patients.”
The proceeds from the financing will fund the clinical development of QRL-201 and QRL-101, the Company’s lead product candidates in ALS, as well as ongoing and planned research and the advancement of QurAlis’ pipeline with therapeutic candidates that target specific components of ALS and genetically related frontotemporal dementia (FTD) pathology.
As part of the Series B financing, two individuals will join QurAlis’ board of directors. QRL-201 is a first-in-class therapeutic product candidate that aims to restore STMN2 expression in ALS patients, and QRL-101 is a first-in-class selective Kv7.2/7.3 ion channel opener for the treatment of hyperexcitability-induced disease progression in ALS. QurAlis’ focus on the link between genetics and disease in ALS and other neurological diseases enables doctors to successfully treat ALS.
