Lys Therapeutics has reached a major milestone in its journey to develop new treatments for neurological diseases. The French biotechnology company has secured more than €25 million in total funding since its launch in 2021, giving it the financial support needed to move its lead drug candidate, LYS241, closer to human clinical trials. The latest funding will help the company complete regulatory studies, strengthen manufacturing preparation, and begin its planned Phase 1a/1b clinical trial.
Funding backed by investors and research organizations
The funding package combines private investment, public support, and research grants. A key part of the financing is a grant of more than US$5 million from The Michael J. Fox Foundation for Parkinson’s Research, which will support the clinical development of LYS241 for Parkinson’s disease.
Lys Therapeutics also received support through French innovation programs, including Bpifrance and France 2030. New investors joining the company include Normandie Participation, TCD Capital, and FIDAT Ventures. Existing supporters, including ZCube, the corporate venture arm of Zambon, and Philippe Bissay, Chairman and Chief Executive Officer of HAC Pharma, also participated in the funding.
LYS241 moves closer to clinical testing
The newly raised capital will allow Lys Therapeutics to complete the regulatory work required before testing LYS241 in people. The company plans to launch a Phase 1a/1b clinical trial, which will include healthy volunteers as well as patients with selected neurological diseases.
According to the company, the study will evaluate the drug’s safety, tolerability, pharmacokinetics, pharmacodynamics, and biomarkers. The results are expected to provide important information that will guide the next stages of clinical development.
A new approach to treating neurological diseases
LYS241 is a fully humanized monoclonal antibody designed to block the interaction between tissue plasminogen activator (tPA) and NMDA receptors. Lys Therapeutics believes this approach could help protect the blood-brain barrier, reduce harmful inflammation, and prevent damage to nerve cells.
The company is developing the therapy for several neurological conditions, including Parkinson’s disease, multiple system atrophy (MSA), and ischemic stroke. So far, LYS241 has shown encouraging results in preclinical studies. However, it has not yet been tested in humans.
Preparing for the next stage of development
Along with advancing its research, Lys Therapeutics is strengthening its manufacturing preparation and completing the work needed to support clinical development. The company said these efforts will help ensure that LYS241 is ready for its first human studies.
The latest funding also supports the company’s broader goal of advancing innovative therapies for neurological disorders that currently have limited treatment options.
CEO welcomes strong investor confidence
Dr. Manuel Blanc, Chief Executive Officer and co-founder of Lys Therapeutics, said the company is pleased to have secured more than €25 million in funding since its creation. He noted that the investment reflects confidence in the company’s scientific approach and will help complete regulatory studies and launch the planned Phase 1a/1b clinical trial of LYS241.
With fresh financial backing and clinical preparations underway, Lys Therapeutics is entering an important stage of its development. The company aims to bring LYS241 into human testing and continue developing new treatment options for patients living with serious neurological diseases.
