Brenig Therapeutics Announces $65 Million Series A Financing to Advance Leading Pre-Clinical Parkinson's Disease Pipeline

• NEA led the round with significant participation from existing and new investors
• Proceeds support advancing leading pre-clinical development candidate BT-267, a best-in-class leucine-rich repeat kinase 2 (LRRK2) inhibitor, into human clinical trials for the treatment of idiopathic and LRRK2-mutuated Parkinson's disease
• Additional assets targeting Parkinson's disease will also be evaluated and potentially added to fuel the neurology-focused pipeline

DOVER, Del., July 23, 2024 /PRNewswire/ -- Brenig Therapeutics Inc. (Brenig), a pioneering neurology-focused drug development company utilizing an AI/ML-based discovery platform, today announced the closing of a $65 million Series A financing. The financing was led by New Enterprise Associates (NEA) with support from an additional US-based healthcare investor as well as existing investors: OrbiMed, Torrey Pines Investments and BioGeneration Ventures. In connection with the financing, Ed Mathers, Partner at NEA, will join the Board of Directors.

"With the financing, we advance our goal of addressing the needs of Parkinson's disease patients with our differentiated drugs," commented Iain Dukes MA DPhil, Chairman of Brenig.

"The Brenig team has made remarkable progress since inception," said Ed Mathers. "We believe their approach could lead to best-in-class therapeutics for the treatment of Parkinson's disease. NEA is thrilled to partner with Brenig through its next phase of growth".

Brenig plans to use the proceeds from this financing to advance BT-267 through healthy volunteer studies and into proof-of-concept studies in idiopathic Parkinson's disease patients. In addition, the company will explore advancing additional best-in-class approaches for Parkinson's disease.

About BT-267

BT-267, a small molecule LRKK2 inhibitor, was designed to have a best-in-class PK profile enabling high and sustained brain exposure and minimal peripheral exposure, thereby ensuring superior efficacy while minimizing on-target, off-tissue toxicity. The molecule exhibits exquisite kinome selectivity, avoiding off-target effects. A clean safety profile has been confirmed through ongoing GLP studies.

About Brenig Therapeutics

Brenig is a small molecule drug development company that utilizes an AI/ML approach via a partnership with Expert Systems Inc., a drug accelerator that has spawned multiple best-in-class clinical candidates across multiple therapeutic areas.

About NEA

New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors, and geographies. Founded in 1977, NEA has over $25 billion in assets under management as of December 31, 2023, and invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of investing includes more than 270 portfolio company IPOs and more than 450 mergers and acquisitions. For more information, please visit www.nea.com.

Media Contact:

Iain Dukes, PhD
Executive Chairman
[email protected]

SOURCE Brenig Therapeutics