After reaching a height in 2021, seed and series A rounds have fallen in recent years, and 2024 is no exception, although amounts raised are tracking slightly ahead of last year. On July 23, the numbers were given a boost when two new companies – namely Dover, Del.-based Brenig Therapeutics Inc. and Boston-based Third Arc Bio Inc. – raised $65 million and $165 million, respectively, in series A financings. A third new company, Abiologics Inc., also received $50 million in initial funding.

Leucine-rich repeat kinase 2 (LRRK2), a key drug target, plays a major role in Parkinson’s disease (PD). Mutations in LRRK2, specifically LRRK2 G2019S which increases LRRK2 kinase activity, have been observed in a majority of PD patients.