4M Therapeutics Announces Successful Completion of its Seed Round Financing
March 8, 2022
Skillman, New Jersey, USA — 4M Therapeutics Inc. (4MTx) has completed seed round financing. Strong interest from investors saw 4MTx raise $1.4 million, surpassing the initial target of $1.2 million. The investment is being used to optimize 4MT-01 and secure intellectual property.
"We are honored by the interest we have received in 4MTx," said Ben Williams, Vice President of Corporate Development and Co-founder. "All of our founders have invested in 4MTx, and they are joined by others with a history of strong leadership in the biotech industry.”
“I am excited to apply recent advances in stem cell technology to discover and develop medicines that could help millions of people living with bipolar disorder, Alzheimer's disease, and other conditions,” said Li-Huei Tsai, a Scientific Founder of 4MTx and Professor and Director of the Picower Institute for Learning and Memory at the Massachusetts Institute of Technology.
“We would like to thank all our investors,” said Pablo Lapuerta, MD, Chief Executive Officer and Founder. “Their investment represents a vote of confidence in the team at 4MTx, and it speaks to the excitement around our innovative approach to neuroscience drug discovery and development.”
4MTx anticipates providing further updates on its scientific progress in the second half of 2022.
About 4M Therapeutics:
4M Therapeutics Inc. (4MTx) is a startup biotech company based on the belief that the study of human brain cells represents an important advance in neuroscience discovery. 4MTx has developed a pipeline of small molecules by studying their effects on brain cells derived from induced pluripotent stem cells. The initial focus is on bipolar disorder and Alzheimer's disease, conditions where enhancement of WNT protein expression can support neuroplasticity and neurogenesis. More information on 4MTx is available at www.4mtx.net.
About 4MT-01:
4MT-01 is a small molecule inhibitor of GSK3β (glycogen synthase kinase 3 beta). Inhibition of GSK3β has been shown to enhance WNT protein expression, which could potentially benefit people with bipolar disorder and patients with Alzheimer’s disease. 4MT-01 is an investigational product that has not been evaluated in clinical trials.
4M Therapeutics Statement Regarding Forward-Looking Statements:
This announcement contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, the research, development and commercialization of pharmaceutical products. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. Such forward-looking statements are based on historical performance and current expectations and projections about our future financial results, goals, plans and objectives and involve inherent risks, assumptions and uncertainties, including internal or external factors that could delay, divert or change any of them in the next several years, that are difficult to predict, may be beyond our control and could cause our future financial results, goals, plans and objectives to differ materially from those expressed in, or implied by, the statements
For additional inquiries, contact Ben Williams, Vice President of Corporate Development and Co-founder of 4M Therapeutics, ben@4mtx.net
