Asceneuron SA, a Lausanne, Switzerland-based provider of small molecules targeting tauopathies such as progressive supranuclear palsy (PSP), Alzheimer’s disease and related neurodegenerative diseases, closed a CHF30m ($30.6m) Series A financing.
The round was led by Sofinnova Partners with participation from new investors SR One, Kurma Partners and Johnson & Johnson Innovation – JJDC, Inc. (JJDC) and founding investor MS Ventures. In conjunction with this round, Henrijette Richter of Sofinnova Partners, Deborah Harland of SR One, Vanessa Malier of Kurma Partners and Hakan Goker of MS Ventures joined Asceneuron’s Board of Directors, along with a representative of JJDC.
Created in 2012 by Dirk Beher, Chief Executive Officer and Christoph Wiessner, Chief Operating Officer, as a part of the Entrepreneur Partnership Program, implemented by MS Ventures to support the creation of spin-off companies from Merck Serono, Asceneuron researches and develops oral small molecule therapeutics targeting tauopathies for treating progressive supranuclear palsy (PSP), other related neurodegenerative diseases and Alzheimer’s disease. The lead product, an O-GlcNAcase inhibitor that in preclinical studies has been demonstrated to modulate tau pathology, has entered the regulatory studies to allow its entry into human clinical testing.
The company intends to use the funds for the development of its orally bioavailable O-GlcNAcase inhibitor ASN-561 up to the completion of a pivotal proof-of concept trial in the orphan tauopathy PSP. ASN-561 has the potential to become the first oral treatment for tauopathies, a group of neurodegenerative diseases which includes several orphan conditions.
FinSMEs
29/09/2015