Lysoway Therapeutics, a Cambridge, MA based startup developing small molecule modulators of lysosomal ion channels, announced today raising a total of $22m in Series A financing since founding, led by Highlight Capital, 3E Bioventures, and Oceanpine Capital. Lysoway was founded in 2020 by CEO and biotech veteran Yongchang Qiu and Professor Haoxing Xu (University of Michigan, Zhejiang University), who is leading the frontier in lysosomal biology.
“We appreciate Highlight Capital, 3E Bioventures, and Oceanpine Capital’s strong support and confidence in our therapeutic approach and experienced team,” said Yongchang Qiu, chief executive officer of Lysoway Therapeutics. “Lysosomal deficiency has long been associated with many neurodegenerative diseases and metabolic disorders, both genetically and phenotypically. Lysosomal ion channels play key roles in the regulation of lysosome function and yet these channels have been neglected as therapeutic targets up until now. Having developed unique technological approaches to screen and develop potent modulators of lysosomal ion channels, we see tremendous potential to apply the breadth of our scientific expertise to advance the field. We are looking forward to accelerating the development of our lysosomal ion channel modulators to bring novel and best-in-class therapies to patients”.
Professor Xu added, “The lysosome, the cell’s recycling center, can mediate the degradation of a variety of biomaterials (proteins, lipids, and membranes) into smaller building-block molecules, which will be subsequently transported out of lysosomes for reutilization or energy. Activation of lysosomal channels by synthetic modulators, like those being developed at Lysoway, may boost lysosome function to maintain cellular health and promote cellular clearance in lysosome storage disorders.”
About Lysoway Therapeutics
Lysoway Therapeutics is a leader in lysosomal ion channel disease biology. We have developed unique technological approaches to screen and develop potent modulators of lysosomal ion channels, including TRPML1 and TMEM175. These ion channels are essential transducers of cellular signals and are required to help maintain cellular homeostasis, especially the delicate balance within the autophagy/lysosomal pathway, which is often disrupted in a number of pathological conditions. Lysoway’s small molecule modulators have great potential to re-balance autophagy/lysosomal function to treat neurodegenerative diseases with lysosomal deficiency and rare diseases characterized by toxic accumulation of cellular wastes.
About Highlight Capital
Highlight Capital is an investment company with a mission to promote technology innovations based on deep scientific and industrial insights. We focus on enabling high growth sectors such as healthcare, biotech and consumer, and we strive to create long-term value and deliver life wellness. We wholeheartedly partner with our entrusted entrepreneurs to drive long-term value creation and to deliver sustainable return.
About 3E Bio
3E Bioventures Capital is dedicated to investing in cutting-edge life sciences and biomedical technologies, with a focus on breakthrough first-in-class therapies and disruptive cross-disciplinary innovations in medical devices and diagnostics. 3E Bioventures takes on a science-driven, entrepreneur-friendly investment philosophy by working closely with companies and research institutions to develop drugs or products that have strong unmet medical needs.
About Oceanpine Capital
Oceanpine Capital is an institutional growth equity investment company formed by seasoned entrepreneurs and sophisticated investors with 20 years of in-depth industry operational and business building experiences in both China and the US. With a perspective of achieving successful growth over the long term, Oceanpine partners visionary entrepreneurs to build world-class companies together over a period of years rather than on the short-term impact.