Its platform addresses conditions across neurology, metabolic disorders, muscular atrophy, and rare genetic diseases. The company’s lead therapeutic, PX578, is a small-molecule activator of mitochondrial DNA polymerase (POLG) and is currently in Phase I trials. A second program targets mitochondrial RNA polymerase (POLRMT) for metabolic disease and is in late preclinical development 

Pretzel launched in 2022 with $72.5 million in Series A financing, led by ARCH Venture Partners and Mubadala Capital, with participation from HealthCap, Cambridge Innovation Capital, GV, and others. This capital laid the groundwork for building its pipeline and platform focused on cellular energetics.

In September 2025, Pretzel strengthened its leadership team by appointing Ashish Dugar, Ph.D., MBA, as Chief Development Officer. With nearly 25 years of experience spanning clinical development, medical affairs, and commercial strategy—including leadership roles at Dyne Therapeutics and Sarepta—Dugar will oversee Pretzel’s clinical execution and regulatory strategy