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Rheostat Therapeutics, a young biotech firm focused on treatments for neurodegeneration, cognition, and rare diseases, secured $23 million in its first formal round of funding. Rheostat is developing small molecules that can modulate the processes of mitophagy and autophagy, pathways used to rid cells of toxic components. MRLVentures Fund and AbbVie Ventures led the financing round, proceeds of which will be used to push Rheostat’s compounds into clinical studies.
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