Home Economy Economic Activity R.I. biotech company secures $1.5M in funding for Alzheimer’s research

R.I. biotech company secures $1.5M in funding for Alzheimer’s research

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PBN Staff

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01/23/2024

BOLDEN Therapeutics Inc., a Rhode Island biotech company and Brown University spinoff founded by Dr. Justin Fallon, pictured, received $1.5 million in pre-seed funding to advance its research in treating Alzheimer’s. / COURTESY BROWN UNIVERSITY

PROVIDENCE – A Rhode Island-based biotech company received $1.5 million in pre-seed funding to advance its research in treating Alzheimer’s disease. The financing, led by Resolute Venture Partners, based in Houston, will enable Bolden Therapeutics Inc. to advance its preclinical development of antisense oligonucleotides to promote neurogenesis. The money comes in the form of pre-seed

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PROVIDENCE – A Rhode Island-based biotech company received $1.5 million in pre-seed funding to advance its research in treating Alzheimer’s disease. The financing, led by Resolute Venture Partners, based in Houston, will enable Bolden Therapeutics Inc. to advance its preclinical development of antisense oligonucleotides to promote neurogenesis. The money comes in the form of pre-seed convertible note financing, a type of early-stage debt that can be converted into shares of the startup for the investor. Additional investments came from Slater Technology Fund in Providence, Lifespan Vision Ventures in Norwalk, Conn., and multiple angel investors, the company said. “We are very excited to have the support of our investors in pursuing our mission,” said Johnny Page, CEO and co-founder of Bolden Therapeutics, a Brown University spinoff. “These funds, along with the $1.8 million Bolden has received in National Institutes of Health Small Business grants, will enable us to advance our preclinical candidates and generate important [in living organisms] data that will hopefully inform our path towards clinical development.” Dr. Justin Fallon and Dr. Ashley Webb, Bolden’s scientific co-founders, have identified a key molecular pathway to stimulate neural stem cells to promote the birth of new neurons [neurogenesis] in the adult brain. The company said it is also developing and testing antisense oligonucleotides to modulate this genetically-validated target. “Over the past few years, several important advancements have led to major progress in the treatment of Alzheimer’s disease and other neurological conditions,” said Fallon, a Brown University professor of neuroscience. “It’s clear that many brain diseases which were once thought to be untreatable are now becoming addressable. We are working to develop our neurogenesis-promoting antisense oligonucleotide candidates to become effective treatments for these disorders.” Bolden Therapeutics' corporate headquarters are in Providence while its research facilities are located in the Boston area, according to the company website.