Lucy Therapeutics Raises $12.5M and Plans Drug Discovery Programs

Lucy Therapeutics Raises $12.5M in Funding

Lucy Therapeutics' Funding and Drug Discovery Programs

Key Highlights:

  • Funding Round: Raised $12.5 million in funding led by Engine Ventures and Safar Partners.
  • Notable Investors: Bill Gates, Parkinson's UK, and the Michael J. Fox Foundation, which provided a $2 million non-dilutive grant.
  • Drug Discovery Programs: Three drug discovery programs in Lucy Therapeutics' pipeline, with IND filings planned in 2025.

Lucy Therapeutics' Target Market

  • Target Market: Focus on developing treatments for complex diseases, specifically Alzheimer's, Parkinson's, and Rett syndrome.
  • Biotechnology and Pharmaceutical Companies: Potential partnerships with companies specializing in drug development and research.
  • Healthcare Providers and Institutions: Collaboration with healthcare providers and research institutions for clinical trials and further research.

What Lucy Therapeutics Needs to Buy

  • Research and Development Services: Collaborating with research organizations and experts in mitochondrial biology and drug discovery.
  • Manufacturing and Supply Chain Solutions: Partnering with manufacturers and suppliers for the production and distribution of their novel drug target.
  • Regulatory and Compliance Support: Engaging with regulatory consultants and experts to navigate the complex regulatory landscape in drug development.