Harvard and MIT-linked Neural Galaxy has picked up $77m in a series A round led by existing shareholder 3E Bioventures.

Neural Galaxy, a China-based brain disease treatment developer exploiting Harvard University and Massachusetts Institute of Technology research, closed an RMB500m ($77m) series A round led by 3E Bioventures yesterday, according to DealStreetAsia.

Lotus Lake Capital, Lightspeed China Partners and Frees Fund filled out the round.

Neural Galaxy is working on therapies for neurological conditions, such as depression, and neurodegenerative diseases that physically affect the brain. It will use the money to accelerate its research, clinical trials and commercialisation efforts, as well as drive recruitment.

The company previously raised $15.5m in pre-series A financing led by Lightspeed in January this year, with contributions from Frees Fund, 3E Bioventures, BOHE Angel Fund, Tsinguyan Ventures and private investor Ray Stata.

Frees Fund, BOHE and Stata had earlier joined forces with Foothill Ventures to supply $6.1m in angel funding in September 2019.