Asceneuron secures $100 Million Series C
Share this article
Asceneuron secures $100 Million Series C financing to advance groundbreaking therapeutics in neurodegenerative diseases.
Asceneuron SA, a clinical stage biotech company developing small molecules targeting tau protein aggregation, a root cause of neurodegenerative disease, announced a $100 Million oversubscribed Series C financing to advance the clinical development of its groundbreaking clinical pipeline of OGA inhibitors for the treatment of neurodegenerative diseases.
The financing was led by Novo Holdings with new investment from EQT Life Sciences – LSP Dementia Fund, OrbiMed and SR One, alongside participation from existing investors M Ventures, Sofinnova Partners, GSK Equities Investments Limited and Johnson & Johnson Innovation – JJDC, Inc.
The financing will be used to advance Asceneuron’s lead asset ASN51 into Phase 2 clinical development for the treatment of Alzheimer’s disease. ASN51 is an oral small molecule drug designed to inhibit OGA, an enzyme implicated in protein aggregation. By preventing the aggregation of tau proteins, ASN51 aims to slow the progression of Alzheimer’s disease. OGA inhibition has also shown promising potential to prevent the aggregation of proteins that are central to other neurodegenerative diseases, including Parkinson’s disease and amyotrophic lateral sclerosis.
ASN51’s unique mode of action and convenient oral formulation make it an ideal therapy for patients with Alzheimer’s disease. Asceneuron has completed five Phase 1 clinical trials, demonstrating complete central nervous system uptake and high OGA enzyme occupancy. Asceneuron plans to initiate its first Phase 2 clinical study later this year.
Barbara Angehrn Pavik, Chief Executive Officer of Asceneuron, said:
“This high calibre life sciences investor syndicate further validates the potential of our OGA inhibitor pipeline and leadership in the field of tauopathies. We are excited to advance our lead asset ASN51 into Phase 2 clinical development, recognising its potential to significantly expand treatment options for patients with Alzheimer’s disease.”
Source: press release