Biotech Startups Tortugas Neuroscience and Korsana Biosciences Launch with $281 Million for Neurological Disorders
Tortugas Neuroscience and Korsana Biosciences emerged with significant funding to advance clinical-stage pipelines targeting neurological and neurodegenerative diseases. Tortugas raised $106 million, while Korsana secured $175 million to develop therapies for conditions including Alzheimer's, schizophrenia, and epilepsy.
Two biotechnology companies targeting neurological disorders announced significant funding rounds to advance their clinical-stage pipelines. Tortugas Neuroscience debuted with $106 million in Seed and Series A financing, while Korsana Biosciences emerged from stealth with $175 million in total funding. Both companies aim to develop new therapies for conditions including Alzheimer's disease, schizophrenia, epilepsy, and other central nervous system disorders.
Tortugas Neuroscience, based in Framingham, Mass., is a neurology-focused biotech developing novel small molecule new chemical entities with derisked mechanisms of action. The company plans to use the $106 million to complete Phase 2 clinical trials for its two lead candidates. Its pipeline, in-licensed from Eisai Co., Ltd. and Jiangsu Hansoh Pharmaceutical Group Ltd., includes potential treatments for schizophrenia, tinnitus, focal epilepsy, reversible encephalopathies, and other CNS indications. The company’s molecules are designed as once-daily oral formulations with differentiated pharmacological profiles. Tortugas is led by CEO Jeff Jonas, M.D., and President and Head of R&D Al Robichaud, Ph.D., both formerly of Sage Therapeutics. The financing was led by Cure Ventures, with co-leads The Column Group and AN Venture Partners.
Korsana Biosciences, based in Waltham, Mass., launched with a $25 million seed investment in 2024 and a $150 million Series A closed in September 2025. The funding syndicate includes Wellington Management, TCGX, J.P. Morgan Life Sciences Private Capital, Janus Henderson Investors, Sanofi Ventures, and Foresite Capital. The company’s lead program, KRSA-028, is a next-generation shuttled monoclonal antibody targeting amyloid beta for Alzheimer’s disease. It utilizes the proprietary THETA™ platform, which incorporates clinically validated transferrin receptor (TfR1) and Fc engineering to improve brain delivery. KRSA-028 is designed to increase amyloid plaque clearance, reduce the rate of amyloid-related imaging abnormalities (ARIA) and hematologic adverse events, and allow low-volume subcutaneous administration. Korsana is led by CEO Jonathan Violin, Ph.D., former founding CEO of Viridian Therapeutics. The initial financing is expected to fund activities into 2028, with key data from healthy volunteer studies expected mid-2027 and proof-of-concept amyloid clearance data in Alzheimer’s patients anticipated by end of 2027. The company is the seventh launched based on assets from Paragon Therapeutics.