Stock Sale Powers Goldenrod into Clinic with 11h program Targeting Brain Inflammation
Houston, TX (June 3, 2026) - Goldenrod Therapeutics, Inc., an innovator in brain inflammation treatments for multiple neurological conditions, today announced that it has completed the initial closing under its $6.5 million Series Seed preferred stock round, led by Ataxia Ventures and an affiliate of Fannin Partners.
Proceeds will fund manufacturing, formulation optimization and IND-enabling studies, along with funding a Phase I study in the company’s beachhead therapeutic indication in Friedreich’s Ataxia (FA), a rare and progressive neurodegenerative disease. In addition to evaluating safety, tolerability and pharmacokinetics, the Phase I study is designed to assess pharmacodynamic activity and biomarkers of PDE4 pathway modulation. These data are expected to provide early evidence of biological activity in humans, inform dose selection and support development across multiple neurodegenerative indications.
“Our 11h program is a next-generation, orally bioavailable, brain-penetrant PDE4 inhibitor, where researchers overcame longstanding limitations associated with earlier PDE4 inhibitors. We believe this creates the potential for a best-in-class therapy for Friedreich’s Ataxia and a potential foundation for development across multiple neurodegenerative and neuroinflammatory disorders,” said Dev Chatterjee, MD, PhD, Chief Executive Officer of Goldenrod. The company in-licensed the technology from the University of Nebraska Medical Center (UNeMed).
”We believe 11h is an important advancement in CNS-targeted PDE4 inhibition, and we’re excited to help drive this science towards a therapeutic candidate for FA,” said Tom Hamilton of Ataxia Ventures.
PDE4 is a validated regulator of neuroinflammation and neuronal signaling, but previously approved inhibitors have been limited by gastrointestinal adverse events or inadequate CNS exposure. Goldenrod’s 11h, which was designed by researchers at UNeMed to address these limitations, demonstrated robust brain penetration and was well tolerated in preclinical studies, without evidence of significant emetic responses. By addressing a fundamental pathway involved in neuroinflammation and neuronal signaling, Goldenrod believes 11h may have broad applicability.
FA is a debilitating inherited neurological disorder characterized by progressive loss of coordination, gait instability, speech impairment and sensory dysfunction. While the US FDA approved the first -- and so far only -- treatment for FA in 2023, disease progression continues for many patients, underscoring the need for additional mechanistically distinct therapeutics. For Goldenrod, 11h represents an aggressive first program that accelerates the company’s overall development objectives against Alzheimer’s disease, Multiple Sclerosis, ALS, Substance Use Disorders, Batten Disease, pain and traumatic brain injury. The company expects to initiate clinical development in 2027.
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About Goldenrod
Goldenrod Therapeutics, Inc. is a Fannin-founded precision therapeutics company developing novel brain-penetrant therapies that target neuroinflammation and neuronal signaling pathways implicated in neurodegenerative and neurological disorders. Goldenrod’s lead candidate, 11h, is a small-molecule drug that inhibits the enzyme PDE4. The company is advancing differentiated programs designed to address significant unmet medical needs through innovative CNS-targeted approaches. In addition to funding from Fannin, the development of 11h has been supported by grants from the NIH and the Department of Defense. For more information, visit www.goldenrod.com.
About Fannin
Established in 2014, Houston-based Fannin is among the most active early-stage product development groups in the life sciences with a dozen programs/platforms at different stages of development. Fannin advances its pipeline both internally and through Fannin-founded entities with a combination of investor and grant funding. In the last decade, Fannin has brought in more than 35 programs, of which a dozen are active, including three in the clinic. Fannin has had $270 million invested across our programs, with $79 million from grant funding and $191 million from investors. An additional critical element to our model is helping develop life sciences entrepreneurs locally through our talent development programs. Our talent development program, which includes part-time interns and full-time fellows/product development associates, has grown to become one of the largest of its kind. Fannin’s 350+ alumni are active in pharma/biotech, medical device/medtech and VC firms across the life science ecosystem. For more information, visit www.FanninInnovation.com, come by the office at 3900 Essex Lane - Suite 575 in Houston or email us at innovate@fannininnovation.com.
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