PolyCore Therapeutics Secures Seed Financing to Address Motor Symptoms and Dyskinesia Associated with Parkinson’s Disease
Collaboration with Xontogeny provides funding and key advisory support for early development
PHILADELPHIA–(BUSINESS WIRE)–April 11, 2022–PolyCore Therapeutics, Inc., a biopharmaceutical company developing treatments for patients suffering from dyskinesia and cognitive impairment associated with neurodegenerative disorders, today announced a seed investment from Xontogeny, LLC and Ben Franklin Technology Partners of Southeastern Pennsylvania to advance their lead compound, PCT-3012, a novel G protein-biased D3 receptor agonist to reduce motor impairment in Parkinson’s Disease, through IND-enabling work.
“Nearly 60,000 new cases of Parkinson’s Disease are diagnosed in the United States each year, and the current gold standard for motor symptom management results in dyskinesias for nearly 50% of patients who are treated for more than four years. Concern around developing these involuntary, erratic motions of the face and body cause some patients to delay treatment,” said Chris Garabedian, Chairman and Chief Executive Officer of Xontogeny. “We are excited to support the PolyCore team in advancing their novel compound through pre-clinical trials, as we believe this new therapeutic could substantially improve the lives of patients living with Parkinson’s Disease by improving motor symptoms without the development of tolerance or dyskinesia.”
Over 1 million Americans live with Parkinson’s Disease. The current standard of care for treating the symptoms of Parkinson’s Disease is Levodopa (L-dopa. Within 3 to 5 years of treatment, approximately 50% of patients develop tolerance to the therapeutic that necessitates taking higher doses more frequently; this increase in dosage can cause L-dopa induced dyskinesia, which manifests as abnormal involuntary body motions that reduce patients’ quality of life. PolyCore is developing PCT-3012, a novel dopamine D3 receptor agonist with a significantly differentiated mechanism of action, which is designed to improve motor symptoms without the development of tolerance, impulse control disorders, and dyskinesia.
“We are thrilled to welcome a collaboration with the team at Xontogeny as we work to advance our lead compound through IND-enabling studies. In addition, we are appreciative of the continued support from Ben Franklin Technology Partners in this round,” said Kelly Beck, CEO of PolyCore Therapeutics. “As the global population continues to age, it is important that we continue to identify treatments that not only address the symptoms of PD but also do not create new side effects, like dyskinesias, which can be incredibly disruptive to a patient’s quality of life. The resources provided through this seed investment will allow us to rapidly advance our technology and accelerate our ability to bring our technology into the clinic.”
PCT-3012 is a novel D3 receptor agonist that induces G-protein signaling without causing receptor desensitization over time. Traditional dopamine agonists, such as L-dopa, signal through both the G-protein and β-arrestin signaling pathways, the latter of which is suspected to cause long-term receptor desensitization that ultimately results in tolerance and hyperactivation of neurons, leading to dyskinesia. PCT-3012 was designed not to recruit or signal through the β-arrestin pathway, thus resulting in an improved compound compared to traditional dopamine agonists.
The Board of Directors will be comprised of Chris Garabedian, CEO of Xontogeny, Fred Callori, SVP of Corporate Development at Xontogeny, Jim Harris, Co-founder of PolyCore, Kelly Beck, CEO of PolyCore and Chris Cashman as an Independent Director.
About PolyCore Therapeutics, Inc.
PolyCore Therapeutics, Inc. is a biopharmaceutical company developing treatments for patients suffering from dyskinesia and cognitive impairment associated with neurodegenerative disorders. PolyCore is current conducting preclinical studies for its lead compound, PCT-3012, a novel small molecule for treatment of Parkinson’s motor symptoms and dyskinesia in patients with early- to mid-stage Parkinson’s Disease. For more information, visit www.polycoretherapeutics.com.
About Xontogeny, LLC
Based in Boston, MA, Xontogeny seeks to accelerate the development of life science technologies by providing entrepreneurs with funding options as well as the leadership, strategic guidance and operational support necessary to increase the probability of success in early drug and technology development. Through a differentiated approach, the Xontogeny team partners with founding scientists and entrepreneurs to support their vision while allowing a more efficient development model that benefits company founders and early equity holders. For more information visit www.xontogeny.com
Contacts
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For investor relations enquiries, please contact:
Xontogeny
Susanna Harris, Ph.D.
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+1 515 865 3929
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