Leal Therapeutics has raised $30 million in the second close of its Series A financing, giving the clinical-stage biotechnology company fresh capital to advance two drug candidates targeting serious central nervous system disorders. The company announced the financing, alongside the start of a Phase 1b/2a clinical trial of its lead candidate, LTX-001, in adults with schizophrenia.
The new financing brings Eli Lilly and Company into Leal’s investor group as a new investor. Existing investors also participated in the round, supporting the company’s next stage of clinical development.
Eli Lilly Joins Leal’s Investor Group
Leal said the second close includes participation from Eli Lilly and Company, along with existing investors OrbiMed, Newpath Partners, Euclidean Capital, SV Health Investors’ Dementia Discovery Fund, Chugai Venture Fund, Alexandria Venture Investments and PhiFund.
The financing is an extension of Leal’s earlier Series A. The company announced a $30 million Series A in August 2025 to support the development of its neuro-metabolic drug pipeline. That earlier round was led by SV Health Investors’ Dementia Discovery Fund.
Leal will use the latest proceeds to advance LTX-001 through an initial readout from its Phase 1b/2a study in schizophrenia. The company will also use the funds to support additional dosing cohorts for LTX-002 in its ongoing Phase 1/2 clinical trial for amyotrophic lateral sclerosis, or ALS.
LTX-001 Enters Phase 1b/2a Trial
LTX-001 is Leal’s lead drug candidate. The company describes it as a first-in-class, brain-penetrant oral GLS1 inhibitor. GLS1, or glutaminase, is an enzyme involved in glutamate metabolism. Leal has already completed single ascending dose and multiple ascending dose Phase 1 trials for LTX-001. According to the company, those studies showed a favorable safety and tolerability profile as well as dose-dependent central nervous system target engagement.
The company has now started a Phase 1b/2a clinical trial of LTX-001 in adults with schizophrenia. The study is registered as NCT07734493 and is designed to assess the safety and efficacy of the investigational treatment in people with schizophrenia. Leal expects initial data from the study by the end of 2026. The trial represents an important step for LTX-001 as Leal moves the candidate beyond early Phase 1 testing and into a study involving patients with schizophrenia.
LTX-002 Advances in ALS
The new financing will also support Leal’s second lead program, LTX-002.
LTX-002 is an intrathecally delivered antisense oligonucleotide designed to target SPTLC1. Leal is developing the candidate to restore healthy sphingolipid levels in the central nervous system. The company is evaluating LTX-002 in adults with ALS through the NeurALS Phase 1/2 clinical trial, registered as NCT07660614.
Leal announced in June 2026 that it had dosed the first patient in the NeurALS trial. The company said the study would evaluate LTX-002 in adults with ALS as it works to advance the program through early clinical development. The latest funding will allow Leal to conduct additional dosing cohorts in the ongoing Phase 1/2 study while it continues development of LTX-001 in schizophrenia.
Leal Focuses on Neuro-Metabolic Therapies
Leal Therapeutics is a clinical-stage biopharmaceutical company focused on developing neuro-metabolic therapies for central nervous system disorders. The company launched in 2021 and is headquartered in Worcester, Massachusetts. Its research approach combines expertise in central nervous system drug development with human genetics, functional genomics, and biomarker analysis. The company is developing both small-molecule and nucleic-acid-based therapies.
For Leal, the $30 million second close comes as both of its lead programs move through clinical testing. LTX-001 has entered its Phase 1b/2a study in schizophrenia, while LTX-002 is already being evaluated in the NeurALS Phase 1/2 trial for ALS. With Eli Lilly joining its existing investors, Leal now has additional funding to pursue clinical milestones for both programs and continue advancing its broader neuro-metabolic pipeline toward future clinical development.
