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.