QurAlis closes $88 million Series B financing

Cambridge, USA-based clinical-stage biotech QurAlis Corporation has closed an oversubscribed $88 million Series B financing, bringing the total funds raised by the company to $143.5 million.

QurAlis says the proceeds will fund clinical development of QRL-201 and QRL-101, the company’s lead product candidates in amyotrophic lateral sclerosis (ALS). In addition, the financing will support ongoing and planned research, as well as the advancement of QurAlis’ pipeline with therapeutic candidates that target specific components of ALS and genetically related frontotemporal dementia (FTD) pathology and defined ALS patient populations based on both disease-causing genetic mutation(s) and clinical biomarkers.

“This financing reflects significant investor confidence in the science behind QurAlis’ next-generation precision medicines, world-class team, and commitment to bringing new therapies to patients suffering from ALS and other neurodegenerative diseases,” said Anne Whitaker, chairwomn of QurAlis’ board of directors.