Neural Galaxy detects pre-series A cash

Neural Galaxy, a China-based brain disease treatment developer advancing Harvard University and Massachusetts Institute of Technology (MIT) research, has received over RMB100m ($15.5m) in a pre-series A round involving Tsingyuan Ventures, a vehicle with ties to Tsinghua University angel investors, according to DealStreetAsia.
Early-stage venture firm Lightspeed China Partners led the round with participation from Frees Fund, BOHE Angel Fund, 3E Bioventures Capital and angel investor Ray Stata.
Neural Galaxy aims to treat people living with neurological diseases. It targets psychological problems like depression as well as neurodegenerative diseases that physically affect the brain.
The company is developing digital software and hardware interfaces it claims will provide clinicians better insights into neurological activity.
Neural Galaxy is headquartered in Beijing but also operates out of Boston in the US. The pre-series A proceeds will sustain its R&D pipeline and help to expand its headcount.
Neural Galaxy was established in July 2019 following more than a decade of collaborative research at MIT and Harvard Medical School’s Martinos Imaging Center.
The founding team includes Feng Guoping, who leads research into molecular targets for various brain disorders at MIT’s McGovern Institute.
Guoping collaborated alongside his McGovern Institute colleague Robert Desimone, a professor of brain and cognitive science, and Liu Hensheng, a professor of neuroscience at Harvard Medical School.
Neural Galaxy raised $6.1m in angel funding in mid-2019 led by Frees Fund and backed by investors including Tsingyuan Ventures, Bohe Angel Fund, private investor Ray Stata and undisclosed additional investors.