Pipeline Raises $80M to Pursue Potential Myelin Restoring Therapy

Pipeline Therapeutics announced that it has raised $80 million in investor financing to develop neuroregenerative therapies for neurological disorders, including those like multiple sclerosis (MS) that are marked by the loss of myelin.

The money will support the research and development of several candidate therapies, with three aimed at promoting and restoring neuronal health.

“We are proud to have this significant support for our mission of developing first- and best-in-class neuroregenerative product candidates for unserved and underserved neurological indications,” Carmine Stengone, president and CEO of Pipeline, said in a press release.

The lead treatment candidate for MS is called PIPE-307, and is designed to help regrow myelin (remyelination), the protective sheath that insulates nerve cell axons against signal loss, much like the coating found around electrical wires.

Pipeline Therapeutics recently launched a Phase 1 clinical trial (NCT04725175) to assess the safety and tolerability of PIPE-307 in up to 72 healthy volunteers, ages 18 to 55, in Australia. Contact information for this trial, which is not yet recruiting, can be found here.

The study is separated into three parts. Part 1 consists of a single ascending dose (SAD) study, involving about 48 volunteers over six weeks. Part 2 consists of a multiple ascending dose (MAD) study in approximately 24 people over seven weeks.

Other candidate therapies for neurological disorders in Pipeline’s portfolio include compounds targeting remyelination and neuroinflammation, axonal repair, and sensorineural hearing loss.

Pipeline’s Series C financing round was “oversubscribed,” the company reported in its release.

“We are delighted to welcome the new investors in our Series C round, and are grateful to our existing shareholders for their continued support,” Stengone said. “We are proud to have this significant support for our mission of developing first- and best-in-class neuroregenerative product candidates for unserved and underserved neurological indications.”