Augustine Therapeutics Raises EUR 17 Million in a Series A First Closing to Advance Lead Candidate Into Clinical Development in Neurological Diseases
2024年6月26日 - 2:00PM
ビジネスワイヤ(英語)
- Proceeds will advance lead candidate AGT100216, a peripherally
restricted and selective HDAC6 inhibitor, into a first-in-human
clinical Phase 1/2 study
- Gerhard Koenig appointed as executive chairman of Augustine's
Board of Directors
Augustine Therapeutics, a pioneering biotech company focused on
novel treatments for neurodegenerative and cardiometabolic
diseases, today announced that it has raised EUR 17 million (USD
18.5 million) in the first closing of its Series A round. The
financing was led by Asabys Partners, with participation from Eli
Lilly and Company, and the US-based Charcot-Marie-Tooth Research
Foundation. Current investors AdBio partners, V-Bio Ventures, PMV,
VIB and Gemma Frisius Fund also joined the round.
Augustine Therapeutics is developing best-in-class, novel,
potent and subtype-selective small-molecule inhibitors of the
cytosolic Histone DeACetylase 6 (HDAC6) enzyme, a class II histone
deacetylase. HDAC6 is a well-known molecular target with strong
biological rationale for neurological disorders and high
therapeutic potential in cardiometabolic disease. Inhibition of
HDAC6 plays a leading role in axonal protection and regeneration by
controlling the efficiency of internal axonal transport.
Augustine’s novel generation of HDAC6 inhibitors (HDAC6i) are
chemically distinct and superior to the first generation
hydroxamate-based inhibitors developed so far, allowing them to
safely and selectively reverse and inhibit the pathophysiological
changes associated with neuromuscular diseases such as
Charcot-Marie-Tooth (CMT), peripheral neuropathies induced by
chemotherapies (CIPN), as well as neurodegenerative diseases such
as Amyotrophic Lateral Sclerosis (ALS).
The proceeds from this first close will be used to advance
Augustine’s lead candidate, AGT100216, into a Phase 1/2
first-in-human clinical trial in 2025. AGT100216 is a peripherally
restricted and selective small molecule HDAC6i with a unique
mechanism-of-action that has strong potential in CMT and CIPN. The
financing will further support the development of the company’s
pipeline, including the advancement of its next-generation drug
candidates with additional peripheral-restricted or brain penetrant
properties for cardiometabolic and neurodegenerative diseases, as
well as fund the expansion of the Augustine executive and R&D
team.
“The support from both new and existing investors in this first
closing is a reflection of the tremendous efforts and scientific
excellence of our team in advancing a unique pipeline of potential
breakthrough therapeutics for patients,” said Sylvain Celanire,
CEO of Augustine Therapeutics. “Our HDAC6 inhibitors have
unique properties designed to achieve meaningful benefits for
patients with neurodegenerative and cardiometabolic diseases. Our
first clinical candidate, AGT100216, has demonstrated impressive
preclinical efficacy in CMT studies highlighting its ability to
halt disease progression, significantly reverse the disease
phenotype and rescue axonal integrity in a dose-dependent manner.
We are looking forward to capitalizing on our unique pipeline with
the strategic insights we are gaining from our Board and Executive
Chairman Gerhard Koenig.”
Clara Campàs, Founding and Managing Partner at Asabys
Partners, said: “Augustine’s molecules are unique, selective
and potent, providing a competitive advantage in modulating a
validated target with potential impact in a large variety of
indications. Augustine’s novel generation of chemically distinct
HDAC6 inhibitors are unprecedented and have the potential to
overcome some of the typical limitations of other HDAC6 inhibitors
currently being tested in early clinical development. We are
thrilled to have joined a strong consortium of investors alongside
Eli Lilly and Company, the current investors and Augustine’s
exceptional team to further develop these molecules to clinical
proof of concept.”
In conjunction with the financing, Clara Campàs, Founding and
Managing Partner at Asabys Partners, has joined Augustine
Therapeutics’ Board of Directors. Isabel Jiménez, Associate at
Asabys, and a representative from Eli Lilly and Company, will join
as Board Observers.
In addition, Augustine Therapeutics announced today the
appointment of Gerhard Koenig as Executive Chairman of its Board of
Directors. Gerhard Koenig has been a Non-Executive Director on
Augustine’s Board since May 2022, and currently serves as CEO and
Founder of Arkuda Therapeutics, a Boston-based biotech company,
focused on the development of lysosomal function enhancers in
neurodegenerative diseases. Gerhard is also a Board Member of Vigil
Therapeutics (NASDAQ: VIGL) focused on rectifying Microglial
dysfunction in neurodegenerative diseases.
Full bios of the complete Board of Directors can be found on the
company’s website via this link.
About Augustine Therapeutics Augustine Therapeutics is a
Belgian biotech company, founded in 2019 and a spin-off company of
VIB-KU Leuven. The company is building a portfolio of best-in-class
small molecules HDAC6 inhibitors for the treatment of severe
peripheral and CNS diseases. Its scientific foundation originates
from the ground-breaking research of Prof. Ludo Van Den Bosch from
the VIB-KU Leuven Center for Brain and Disease Research, tackling
the underlying mechanism of axonal degeneration of peripheral
nerves through selective HDAC6 inhibition. For more information
visit www.augustinetx.com.
About Asabys Partners Asabys Partners (www.asabys.com) is
a venture capital firm specialized in the healthcare sector,
founded in 2018 by Josep Ll. Sanfeliu and Clara Campàs,
participated by Alantra and with the support of Banc Sabadell as
anchor investor. Asabys invests in highly innovative and disruptive
companies covering unmet medical needs in the biopharma and
healthtech verticals. The firm’s investment in the company comes
from its vehicles Sabadell Asabys Health Innovation Investments II,
FCR and Sabadell Asabys Health Innovation Investments 2B, SCR
SA.
About Eli Lilly and Company Lilly is a medicine company
turning science into healing to make life better for people around
the world. We've been pioneering life-changing discoveries for
nearly 150 years, and today, our medicines help more than 51
million people across the globe. Harnessing the power of
biotechnology, chemistry and genetic medicine, our scientists are
urgently advancing new discoveries to solve some of the world's
most significant health challenges: redefining diabetes care;
treating obesity and curtailing its most devastating long-term
effects; advancing the fight against Alzheimer's disease; providing
solutions to some of the most debilitating immune system disorders;
and transforming the most difficult-to-treat cancers into
manageable diseases. With each step toward a healthier world, we're
motivated by one thing: making life better for millions more
people. That includes delivering innovative clinical trials that
reflect the diversity of our world and working to ensure our
medicines are accessible and affordable. To learn more, visit
Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram
and LinkedIn. C-LLY
About the CMT Research Foundation CMTRF (www.cmtrf.org)
is a patient-led, non-profit focused on delivering treatments and
cures for CMT. The foundation identifies significant obstacles or
deficiencies impeding progress towards a cure and seeks out
collaborators to address these issues. It's their mission to raise
funds to invest in promising science with high potential of leading
to treatments and cures. Founded by two patients who are driven to
expedite drug delivery to people who live with CMT, the 501(c)(3)
federal tax-exempt organization is supported by personal and
corporate financial gifts.
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version on businesswire.com: https://www.businesswire.com/news/home/20240625396624/en/
Sylvain Celanire Chief Executive Officer Email:
info@augustinetx.com
For Media: Trophic Communications Stephanie May or
Eva Mulder augustine@trophic.eu +31 6 52 33 15 79