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Accelerator Life Science Partners Launches Magnolia Neurosciences Corporation with $31 Million Series A to Develop Targeted Neuroprotective Therapies

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Accelerator Life Science Partners (Accelerator), a leading life science
investment and management firm, today announced that it has launched
Magnolia Neurosciences Corporation, a company developing a new class of
neuroprotective medicines. Co-founded by Accelerator and The University
of Texas MD Anderson Cancer Center (MD Anderson), the company will
further develop discoveries made by scientists in MD Anderson's
Therapeutics Discovery division and the Neurodegeneration Consortium
(NDC).

Investors participating in the $31 Million Series A financing
include AbbVie Ventures, Alexandria Venture Investments, ARCH Venture
Partners, Eli Lilly and Company, Innovate NY Fund, Johnson & Johnson
Innovation – JJDC, Inc., the Partnership Fund for New York City, Pfizer
Ventures, Watson Fund, L.P., WuXi AppTec's Corporate Venture Fund and
180 Degree Capital Corp.

Neurodegenerative diseases and neuronal injury affect nearly 20 million
individuals in the United States alone, and their incidence is expected
to increase as the population ages. During embryonic development, excess
neurons are eliminated by a process called programmed cell death.
Research indicates that this tightly controlled process becomes
re-activated in critical brain regions in Alzheimer's disease and other
neurological conditions. Blocking specific components of this process
preserves brain tissue and leads to enhanced memory in animal models,
suggesting that drugs targeting these key steps could maintain neural
function.

"There is a critical need to develop medicines that slow or stop
neuronal loss in these patients, and a growing body of data suggests
that inhibition of these specific pathways has the potential to preserve
neuron viability across a variety of disease states and pathological
conditions," said Jim Ray, PhD, director of Neurodegeneration
Consortium. "Magnolia Neurosciences is focused on developing potent and
highly selective neuroprotective therapies that have compelling
preclinical pharmacologic profiles and for which clinical proof of
concept can be obtained rapidly in order to address significant unmet
patient needs."

"The potential market for neuroprotective therapies is large and
underserved, and we believe that Magnolia Neurosciences has the
technology, intellectual property and scientific expertise to become a
leader in the field," said Thong Q. Le, chief executive officer at
Magnolia Neurosciences Corporation and Accelerator Life Science
Partners. "In launching Magnolia Neurosciences, we are pleased to be a
catalyst for innovation that could improve the care and outcomes for
millions of patients."

Magnolia Neuroscience is built upon the expertise of scientists at MD
Anderson, one of the world's most respected cancer centers focused on
patient care, research, education and prevention. With a comprehensive
approach to improving patient care, scientists from MD Anderson and the
NDC are focused on developing life-saving transformational medicines for
patients in need of neuroprotective therapies, including those with
Alzheimer's disease and cancer.

"This investment in Magnolia Neurosciences exemplifies Pfizer's
commitment to funding neuroscience innovation and supporting
cutting-edge translational neuroscience research," said Laszlo Kiss,
executive director, Worldwide Research & Development and principal at
Pfizer Ventures. "Our new focus on neuroscience investing is designed to
support entrepreneurs who are deciphering the molecular basis of
neurologic disorders, and we believe that Magnolia Neurosciences has the
technology and scientific foundation on which to build an exciting
portfolio of neuroprotective medicines."

About Magnolia Neurosciences Corporation

Magnolia Neurosciences Corporation is a drug discovery and development
company focused on the creation of a novel class of neuroprotective
medicines. The company was launched by a $31 million Series A investment
by Accelerator Life Science Partners in 2018 and was co-founded by
world-class researchers at The University of Texas MD Anderson Cancer
Center. The company endeavors to make life-changing medicines for the
benefit of patients and their families suffering from serious CNS
diseases. The company's offices are located in the Alexandria Center for
Life Science, New York City's first and only premier life science
campus. For more information, please visit www.magnolianeurosciences.com.

About Accelerator Life Science Partners

Accelerator Life Science Partners catalyzes the development and
commercialization of breakthrough biotechnology innovations. Accelerator
is a trusted partner that provides the complete business, scientific and
financial toolkit necessary for successfully establishing and operating
an early-stage biotechnology company. Accelerator nurtures its companies
across all stages and in all facets of development, setting them on a
path that offers the greatest chance for long-term success. Among these
key resources are committed investment capital, experienced start-up
management, world-class scientific expertise and state-of-the-art
laboratories and shared facilities.

The company is uniquely positioned to provide this unprecedented
collection of capabilities and resources through its partnership with
top-tier investors, seasoned executive managers and world-class research
institutions. The value of these collective resources has been validated
over more than a decade of successful investing in life science
companies that are helping to shape the rapidly evolving future of
medicine and healthcare. For more information, please visit www.acceleratorlsp.com.

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