Subjects: FNC, VEN
MitoSense Inc. Completes $3.5 Million Series Seed Funding Round, Led by Caydan Capital Partners
PLYMOUTH, Mass., Jan. 22, 2024 /PRNewswire/ -- MitoSense Inc., a research and development company focused on neurodegenerative disease treatments, announces the successful closure of its Series Seed Funding Round led by Caydan Capital Partners, raising close to $3.5 million. The round will allow MitoSense to advance its innovative work in Mitochondria Organelle Transplantation (MOTtm?).
MitoSense aims to replenish damaged mitochondria in humans afflicted with degenerative conditions, initially concentrating on Amyotrophic Lateral Sclerosis (ALS) treatment. This technology has broad potential applications in treating Alzheimer's, Parkinson's, Huntington's, Multiple Sclerosis, and other neurodegenerative diseases.
In addition to its Series Seed funding round, MitoSense is also supported by the following organizations, whose collaborations are pivotal to its success:
- Elliott Mitochondrial Research Center: Enhancing mitochondrial research capabilities.
- James A. Haley Veterans' Hospital: Developing therapies for neurodegenerative dysfunctions in veterans.
- Walter Reed Army Institute of Research: Focusing on mitochondrial health in military personnel.
- Greenwood Genetic Center: Researching Alzheimer's Diseases and genetic aspects of mitochondrial diseases.
- Uppsala University, Sweden, Center for Advanced Medicinal Products: Evolving patient accessible advanced medicinal products from cellular starting materials.
Van Hipp, Chairman of MitoSense Inc., remarks, "This funding, complemented by our collaborations, propels us toward improving conditions for patients with ALS and other neurodegenerative diseases. We are dedicated to continuing the legacy of Dr. Robert Elliott, MD, PhD, in this endeavor."
Rick Waldo, Managing Partner at Caydan Capital, adds, "MitoSense Inc.'s groundbreaking approach in mitochondrial health is pivotal. We're proud to support their mission to transform the landscape of neurodegenerative disease treatment."
This funding underscores MitoSense Inc.'s commitment to pioneering research in mitochondrial health, aligning with the broader goal of advancing human health and wellbeing.
About MitoSense Inc.: MitoSense Inc. is a biotechnology company dedicated to advancing mitochondrial health through innovative therapies and research, focusing on treatments for neurodegenerative diseases.
About Caydan Capital Partners, LLC: Caydan Capital Partners is a multi-asset investment firm that invests in exceptional companies across the private and public markets.
SOURCE MitoSense, Inc.
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