Modulight Biotherapeutics raises $12 million seed funding

Boston, USA-based Modulight Biotherapeutics, a developer of novel optogenetic platform for the treatment of neurological disorders, today announced the closing of its Seed funding round raising $12.2 million.

The Seed round was led by Jibe Ventures and LocalGlobe, with participation from Nexus Neurotech Ventures, RedSeed VC, Secret Chord Ventures, Fresh Fund, Saras Capital, SilverArc Capital and Sha'ar Mivnim. The funding will enable the Company to accelerate the development of its optogenetic technology platform and advance its therapeutic product pipeline towards the clinic.

“This funding marks a significant milestone for Modulight Biotherapeutics as we advance our mission to develop light-based therapeutics for the treatments of severe neurological diseases," said Dr Yotam Eldar, chief executive of Modulight Biotherapeutics, adding: "We welcome our partners and investors, underscoring their collective confidence in Modulight’s vision, strategy and innovative solution. The financial round will allow us to enhance the preclinical development of our optogenetic switch for the treatment of trigeminal pain and initiate IND-enabling studies, manufacturing and discussions with the FDA."