BELMONT, Mass. — Oryon Cell Therapies, a clinical-stage biotechnology company developing autologous neuron replacement therapies, announced it has emerged from stealth with a new $21 million Series A financing tranche, bringing total funding to $42 million.
The round included investors such as Neuro.VC and Byers Capital, among others. The company said the funding will support completion of its ongoing Phase 1b/2a clinical trial, along with manufacturing scale-up and regulatory activities aimed at advancing its lead Parkinson’s disease program into Phase 3 development.
Oryon also announced the appointment of Ron Cohen, M.D., as Chief Executive Officer. Dr. Cohen brings more than 30 years of experience in the biopharmaceutical industry, including leadership in drug development, regulatory approval, and commercialization of therapies addressing unmet medical needs.
The company’s lead program focuses on a neuron replacement therapy designed to restore dopaminergic function in patients with Parkinson’s disease.
“Oryon’s program emerged from 30 years of scientific advances in stem cell biology and neurosurgical techniques, including foundational Parkinson’s disease research conducted at Harvard University and Mass General Brigham,” said Ole Isacson, M.D., Ph.D., Co-Founder of Oryon and Founding Director of the Neuroregeneration Research Institute at McLean Hospital/Harvard Medical School. “The major milestones we announced today reflect the tremendous progress we have made in moving this technology from the lab to the clinic, and will allow us to accelerate it through its next stages of development.”
Dr. Cohen said the company’s early clinical results demonstrate promising signs of efficacy.
“Prior to joining Oryon, I spent more than 30 years collaborating with company colleagues, scientists, doctors, and patients to address unmet needs in treating neurological conditions, including Parkinson’s disease. Oryon’s early clinical findings show motor improvements and corresponding neuroimaging evidence of restored dopaminergic signaling. These are exhilarating from my perspective as both a physician and long-time drug developer,” he said.
“I’m delighted to have joined the Oryon team to help achieve our goal of bringing this extraordinary therapy to patients,” Dr. Cohen added.
