PolyCore Therapeutics raises seed funding to advance PCT-3012 for PD

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PolyCore Therapeutics, Inc. has reportedly secured seed funding from Ben Franklin Technology Partners of Southeastern Pennsylvania and Xontogeny LLC to advance its lead compound PCT-3012.

It should be noted that PCT-3012 is a new dopamine D3 receptor agonist that curbs motor impairment in Parkinson’s Disease via IND-enabling studies.

Chris Garabedian, the Chief Executive Officer and Chairman of Xontogeny stated that the company is pleased to support the team at PolyCore in advancing its novel compound via pre-clinical trials. He also expressed his belief that the new therapeutics could significantly enhance motor symptoms of patients with Parkinson’s Disease without developing dyskinesia or tolerance.

Interestingly, more than one million Americans suffer from Parkinson’s Disease. The existing gold standard for managing motor symptoms is L-dopa (Levodopa). Within three to five years of treatment, nearly half of the patients develop therapeutic tolerance that requires taking higher doses more often. This rise in dosage can lead to L-dopa-induced dyskinesia which exhibits involuntary abnormal body motions that reduce the quality of the patient’s life.

PolyCore’s G protein-biased D3 receptor agonist PCT-3012 will comprise a substantially differentiated action mechanism, which is designed to enhance motor symptoms without developing tolerance, dyskinesia, and impulse control disorders.

Kelly Beck, the Chief Executive Officer of PolyCore Therapeutics, cited that it is crucial to continue identifying treatments that not only acknowledge the symptoms of Parkinson’s Disease but also inhibit new side effects like tolerance of dyskinesias.

Beck added that the resources offered through this seed financing will enable the company to quickly advance its technology and expedite its ability to introduce the technology into the clinic.

The Board of Directors will include Fred Callori, SVP of Corporate Development at Xontogeny, Chris Garabedian, CEO of Xontogeny, Chris Cashman as an Independent Director, Jim Harris, Co-founder of PolyCore, and PolyCore’s CEO Kelly Beck.

For those unversed, PolyCore develops treatments for patients diagnosed with dyskinesia and neurodegenerative disorder-associated cognitive impairment.

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https://www.businesswire.com/news/home/20220411005961/en/PolyCore-Therapeutics-Secures-Seed-Financing-to-Address-Motor-Symptoms-and-Dyskinesia-Associated-with-Parkinson%E2%80%99s-Disease