Funding will support commercial launch of MARAbio’s autism test in 2025 and development of therapeutic interventions
SALT LAKE CITY, Oct. 8, 2024 /PRNewswire/ -- MARAbio Systems, Inc. (MARAbio), a precision immunology company whose mission is to detect, treat and prevent Maternal Autoantibody Related Autism, has closed $19 million in Series A financing led by MAK Capital One, LLC (MAK), the New York-based investment management firm. As part of this new investment, Michael A. Kaufman and Craig Nemiroff of MAK will join MARAbio’s Board of Directors. The funding round is open to new investors through year-end 2024.
Maternal Autoantibody Related Autism (MARA) is a biological subtype of autism caused by the presence of a pattern of distinct autoantibodies in a mother. The discovery of MARA represents a major scientific breakthrough in the earlier and pre-symptomatic detection of autism in a child. Shown to be associated with more severe or profound forms of autism, MARA is estimated to comprise approximately 20% of all individuals with autism. MARAbio’s breakthrough science enables earlier behavioral intervention and treatment for children with autism, the benefits of which have been demonstrated in numerous clinical studies.
“This comprehensive funding led by MAK Capital will accelerate MARAbio’s mission to detect and mitigate Maternal Autoantibody Related Autism,” said Vincent A. Forlenza, Chairman of MARAbio’s Board of Directors. “This represents an important inflection point in early detection of this subtype of autism as we prepare to bring MARAbio’s science to market.”
“MAK’s investment in MARAbio reflects our conviction in the market potential of their revolutionary blood test. This capital raise will enable the commercialization of a powerful new diagnostic tool to benefit potentially millions of families, pre- and post-pregnancy,” said Michael A. Kaufman, Chief Executive Officer of MAK Capital.
MARAbio is a precision immunology company with exclusive rights to key discoveries made by Dr. Judy Van de Water at UC Davis / MIND Institute that form the biological basis of MARA. The Company has developed a proprietary blood test for women to accurately determine if they are carriers of the antibodies that cause MARA. The test can be used to diagnose MARA in children as early as birth as well as predict MARA prior to pregnancy. MARAbio is working to develop pre-symptomatic interventions, including therapeutic treatments, which will enable families and physicians to detect and limit the incidence of this subtype of autism.
“MARAbio has developed the first-ever blood test for a mother that detects autoimmune-related autism in her child, and our Series A funding round is a significant milestone that will accelerate our ability to bring this test to families in 2025,” said Michael S. Paul, Ph.D., MARAbio’s Chief Executive Officer. “MAK Capital’s investment will also support our efforts to develop a precision immunology platform for both the diagnosis of autism as well as the initial development of potential therapeutic interventions aimed at neutralizing the antibodies that cause MARA, ultimately preventing the MARA subtype and reducing the overall prevalence of autism.”
About MARAbio
MARAbio Systems, Inc. (MARAbio) is a precision immunology company with proprietary technology related to a distinct cluster of antibodies that lead to Maternal Autoantibody Related Autism (MARA). The Company’s first product will be a test to accurately predict the likelihood of MARA in a child through a simple blood test in the mother even before clinical symptoms exist, including prior to pregnancy or as early as birth. The Company’s mission is to detect, treat and prevent MARA, a subtype which has shown to be associated with more severe forms of autism.
For more information, please visit www.marabio.com.
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SOURCE MARAbio
