MD Anderson Spins Out Neurosciences Company From Discovery Division

By Bio-IT World Staff

August 20, 2018 | The University of Texas MD Anderson Cancer Center and Accelerator Life Science Partners, a leading life science investment and management firm, have announced the launch of Magnolia Neurosciences Corporation, a company developing a new class of neuroprotective medicines, with $31 million in Series A funding. The company will develop novel therapeutics based on discoveries made by researchers in MD Anderson’s Therapeutics Discovery division, including the Institute for Applied Cancer Science (IACS) and the Neurodegeneration Consortium (NDC).

“By developing new treatments, Magnolia Neurosciences will address a critical need for patients suffering from neurodegenerative conditions, such as Alzheimer’s disease and chemotherapy-induced neuropathy in cancer patients,” said Jim Ray, director of the NDC, in a press release. “These conditions are driven by similar biological pathways, and it is our hope that we can improve the lives of patients across disease types based upon new drug candidates discovered by the MD Anderson Therapeutics Discovery team.”

Annually, more than 700,000 Americans with cancer are treated with chemotherapy, and many experience a variety of neural and cognitive impairments as a result of their treatment. More than 200,000 patients each year will suffer from a condition known as “chemobrain,” characterized by general cognitive and memory problems, which can last for years. Additionally, roughly two-thirds of patients undergoing chemotherapy treatment develop peripheral neuropathy, in which nerve damage causes pain, numbness, and tingling in the hands and feet.

The development of medicines to prevent these conditions in patients receiving chemotherapy would not only improve patients’ quality of life, but also would avoid the need for dose reductions or breaks from therapy, resulting in improved survival, explained Philip Jones, vice president of Therapeutics Discovery and head of drug discovery at IACS, in the same statement.

Neurodegenerative diseases include a range of conditions characterized by progressive deterioration of neurons in the human brain. These conditions affect millions of Americans and are largely untreatable.

“Our team is inspired by the needs we see in our patients, and we learned from MD Anderson’s physicians that some cancer treatments can cause significant neurocognitive and neuropathy challenges for survivors,” said Jones. “Therefore, we set out to discover new therapies to combat these issues and, hopefully, a variety of other neurodegenerative conditions.”

Investors participating in the $31 Million Series A financing include AbbVie Ventures, Alexandria Venture Investments, ARCH Venture Partners, Eli Lilly and Company, Innovate NY Fund, Johnson & Johnson Innovation – JJDC, Inc., the Partnership Fund for New York City, Pfizer Ventures, Watson Fund, L.P., WuXi AppTec’s Venture Fund and 180 Degree Capital Corp.

The preclinical research to identify and develop the novel drug candidates being advanced by Magnolia Neurosciences was funded by the NDC, through support from the Robert A. and Renee E. Belfer Family Foundation; and IACS, part of MD Anderson’s Moon Shots Program, a collaborative effort to accelerate the development of scientific discoveries into clinical advances that save patients’ lives.