Heidelberg-based FundaMental Pharma launches with €10m seed financing to advance a First-in-Class neuroprotectant

FundaMental Pharma (FundaMental), a preclinical neuroscience company spun out of Heidelberg University, announced it has launched with €10 million in seed financing led by BioGeneration Ventures (BGV) and Thuja Capital, with participation from other investors, including coparion and High-Tech Gründerfonds (HTGF).

Built on the pioneering research of Professor Hilmar Bading and Dr. Jing Yan published in Science¹, the founders of FundaMental have identified first-in-class small molecule inhibitors for treatment of a range of neurodegenerative diseases such as Amyotrophic Lateral Sclerosis (ALS) and Huntington’s Disease. FundaMental’s novel approach relies on separating the normal neuroprotective effect of synaptic glutamate from its neurotoxic extra-synaptic actions, which are eliminated by the inhibitors.

Thomas Schulze, CEO and Co-founder, FundaMental: “I am convinced that the successful development of FundaMental’s small molecule inhibitors will mark a milestone in neuropharmacology and possibly beyond. It has been a privilege to have worked with Professor Bading`s team since 2010 and to have put together such a strong leadership team. Having found visionary investors whose aims are aligned with the founder’s goals of stopping neurodegeneration, this vision can now become reality after many years of dedication and persistence.”

Professor Hilmar Bading, Director of the Department of Neurobiology and the Interdisciplinary Center for Neurosciences at Heidelberg University and Co-founder of FundaMental: “It is probably no exaggeration to call the discovery of the new therapeutic principle of ‘inhibition of an extra-synaptic glutamate-activated death signaling complex’ a breakthrough in neuroscience. These inhibitors have the potential to revolutionize therapies for currently untreatable neurodegenerative diseases and offer hope to many affected and suffering patients.”

In conjunction with the financing, FundaMental also announced several key senior management appointments as well as the Board of Directors of the company. Dr. Gabriele Hecker-Barth has joined as Chief Medical Officer and Dr. Jing Yan as Senior Director of Research. Dr. Keno Gutierrez of BGV and Dr. Michel Briejer of Thuja Capital, Professor Hilmar Bading and Dr. Thomas Schulze have been appointed to the company’s Board of Directors.

Keno Gutierrez, Chairman, FundaMental’s Board of Directors and Partner, BGV: “FundaMental’s novel therapeutics provide new hope to patients of ALS, Huntington’s disease and spinocerebellar ataxia 3, which remain devastating diseases that have an immense impact on the quality of patients’ lives. We are excited to invest and support the FundaMental team as they endeavor to make these molecules ready for the clinic.”

Michel Briejer, Board Member and Managing Partner, Thuja Capital: “Professor Bading and Dr. Yan have made a promising and important discovery, unlocking the possibility to inhibit glutamate neurotoxicity while leaving its physiologically important aspects unaffected. We are thrilled to be part of this venture with a mission to impact the lives of patients suffering from these neurodegenerative diseases.”

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