Muna Therapeutics

Emerging

Muna Therapeutics raised $75M in 2024 targeting microglial biology in Alzheimer's disease, using iPSC-derived microglia models to identify novel drug targets that modulate brain immune function.

Company Overview

About Muna Therapeutics

Muna Therapeutics focuses on microglial biology — the specialized immune cells of the brain — as the key to developing disease-modifying Alzheimer's therapies beyond amyloid targeting. The company uses induced pluripotent stem cell (iPSC)-derived microglia as disease models to identify and validate novel drug targets implicated by Alzheimer's genetics (TREM2, PLCG2, BIN1, APOE). This platform enables the company to study microglial dysfunction at scale and run drug screens against human-relevant cellular models.

Business Model & Competitive Advantage

Founded in Copenhagen in 2020 with co-founders from the UK Dementia Research Institute, Muna raised $75M in 2024 and is advancing multiple small molecule and antibody programs targeting TREM2 agonism and related microglial activation pathways. The company's approach differs from antibody-based TREM2 programs (Alector, Vigil Neuroscience) by pursuing oral small molecules that can penetrate the blood-brain barrier.

Competitive Landscape 2025–2026

With Alzheimer's affecting 55 million people worldwide and limited options beyond recently approved anti-amyloid antibodies, microglial biology represents one of the most genetics-validated unexplored therapeutic avenues. Muna's iPSC platform advantage enables rapid target validation cycles that outpace traditional neuroscience drug discovery timelines.

Revenue
$75M
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Key Differentiators

Emerging Innovator

Muna Therapeutics is an emerging player bringing innovative solutions to the BioTech market.

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