CAMBRIDGE, Mass.--(BUSINESS WIRE)--EnClear Therapies, a life sciences company developing device-based therapies for the treatment of neurodegenerative disease, today announced a $10 million Series A financing led by 20/20 HealthCare Partners (“20/20 HCP”), and joined by Peter Thiel, Amgen Ventures, GHS Fund (Quark Venture LP and GF Securities), Christian Angermayer’s Presight Capital and Dolby Ventures.
“We are thrilled to have a strong syndicate committed to our team and platform technology, enabling EnClear to move our therapeutic system to our first-in-human clinical trial in Amyotrophic Lateral Sclerosis, as well as expand our platform into new applications and strategic partnerships.” said Anthony DePasqua, Chief Executive Officer and Co-founder, EnClear Therapies. “Our differentiated technology has the potential to transform not only the treatment of this devastating disease, but also many other conditions related to the central nervous system.”
EnClear also announced that Hillel Bachrach, Managing Partner at 20/20 HCP, Jason Camm, Managing Director and Chief Medical Officer at Thiel Capital, and Zafrira Avnur, Chief Scientific Officer and Partner at Quark Venture will join the Board of Directors effective immediately.
“Hillel Bachrach, Jason Camm and Zafrira Avnur bring decades of experience and a deep understanding of the life sciences sector to our Board of Directors,” said Mr. DePasqua. “Moreover, they are committed to working closely with the EnClear team to support the company’s successful development and strategic initiatives. We welcome Zafrira, Jason and Hillel to our Board of Directors and look forward to their contributions.”
“The founders of EnClear are focused on producing a technology that could revolutionize the field by allowing fast diagnosis, delivery of any drug directly into the cerebrospinal fluid, and the development of new CNS-focused therapeutics,” said Jason Camm “I am excited to help EnClear grow their business to help the millions of patients living with CNS diseases.”
“20/20 HCP was established to invest in life sciences companies with the potential to develop transformative new approaches for the treatment of disease,” said Hillel Bachrach. “We believe that EnClear’s technology has the potential to fundamentally change the way neurodegenerative diseases are treated and ultimately improve patients’ lives.”
“Quark Venture supports and enables companies to grow, create value and be successful by providing not only financial support but also developmental, commercial and business development expertise,” said Karimah Es Sabar, CEO and Partner, Quark Venture. “We believe that EnClear’s unique, device-based approach to accessing and treating the CNS has the potential for strategic partnerships across both the bio and medtech industries.”
Hillel Bachrach is the Managing Partner of 20/20 HealthCare Partners, LLC, a global investment entity he founded in 2005. Hillel Bachrach
Jason Camm joined Thiel Capital in 2012 and is Managing Director and Chief Medical Officer. Jason Camm
Zafrira Avnur, Ph.D. joined Quark Venture in 2016 as Chief Scientific Officer and Partner. Zafrira Avnur
About EnClear Therapies
EnClear Therapies is a Cambridge (USA) based life sciences company developing a device-based therapy to aid in the treatment of neurodegenerative disease and delivery and monitoring of cerebrospinal fluid (CSF). EnClear’s proprietary therapeutic platform focuses on removing toxic proteins from the CSF. The company’s first products will target improving the lives of patients with Amyotrophic Lateral Sclerosis (ALS) and Progressive Supranuclear Palsy (PSP).