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The German start-up Modag has raised about $14 million in series A financing to begin testing small-molecule drugs for neurodegenerative diseases in clinical studies. Modag’s lead drug candidate, called anle138b, binds toxic oligomers of α-synuclein, a protein whose aggregation is implicated in Parkinson’s disease. To start, Modag will test the compound in a rare disease called multiple system atrophy, which is similar to Parkinson’s. The company was founded in 2013 by scientists from Ludwig Maximilian University of Munich and the Max Planck Institute for Biophysical Chemistry.
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