Xconomy: New Biotech Magnolia Neurosciences Gets $31M For Neuroprotective Drugs | Enterpreneurship

Brain circuit board on blue background (depositphotos image by zayatsandzayats used with permission

A new biotech company, , is launching with $31 million from investors to develop potential therapies for nervous system disorders based on discoveries at the University of Texas MD Anderson Cancer Center.

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Magnolia, which is based in New York, was co-founded by Seattle-based life sciences investment firm Accelerator Life Science Partners and MD Anderson in Houston. The startup will mine the discoveries made by scientists at MD Anderson’s Therapeutics Discovery division, including its Neurodegeneration Consortium and its Institute for Applied Cancer Science, or IACS. Investors in the round are AbbVie Ventures, Alexandria Venture Investments, Arch Venture Partners, Eli Lilly, among… Read more »

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