Ex-Genentech Execs’ Big $217M Deal to Start Denali

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Ex-Genentech Execs’ Big $217M Deal to Start Denali

From press release:

“Denali Therapeutics Inc. (“Denali”), a new biotechnology company focused on developing effective therapies for neurodegenerative diseases, announced today that it has launched with an initial investment commitment of $217 million. Denali is based on the collaboration of world-class scientists, industry experts and investors. Recent scientific insights into the genetic causes and biological processes underlying neurodegenerative disease, together with new translational medicine tools, offer an unprecedented opportunity to discover and develop effective medicines for Alzheimer’s disease, Parkinson’s disease, ALS and other neurodegenerative diseases.

Commenting on the launch of Denali, Dr. Ryan Watts, Denali Co-Founder, Acting CEO and CSO, said, “Our team will place an emphasis on rigorous translational medicine for targeted drug development, seeking evidence of drug activity in the brain and identifying biomarker-defined patient populations to increase the probability of clinical success. We are committed to collaborating with leading academic groups, companies and advocacy groups.”

Dr. Marc Tessier-Lavigne, Denali Co-Founder and Chairman of the Board of Directors, said, “Neurodegenerative diseases are an enormous burden for patients and challenge for society. Recent advances in science create new opportunities for the discovery and development of breakthrough treatments for patients. The time is right and Denali has the right team and resources.”

Full release

Additional coverage:

Genentech Brain Trust Raises $217 For New Startup To Fight Alzheimer’s And Parkinson’s (Forbes)
Ex-Genentech dream team garners $217M to launch neurodegenerative player Denali (FierceBiotech)
Boston locals help found San Francisco biotech with biggest-ever Series A round (BioFlash)
Denali Rises With $217M and Genentech Alumni to Fight Brain Diseases (Xconomy)
Marc Tessier-Lavigne, Ph.D. to Leave Pfizer Board of Directors (press release)

May 14th, 2015|