Denali Therapeutics spinout raises $200M as neuro company resets

A new company is making hay from an R&D shift at Denali Therapeutics, acquiring several of its neuroscience drug candidates and raising money from one of its original investors.

The biotech, called Tenvie Therapeutics, launched Wednesday with $200 million from ARCH Venture Partners — one of Denali’s early investors — as well as F-Prime Capital, Mubadala Capital, and others. Denali has an undisclosed equity stake in the new company.

Tenvie is carrying over a collection of small molecule drugs that Denali had been developing but decided to move away from. Executives teased the spinout at the J.P. Morgan Healthcare Conference last year.

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