Aeovian Pharmaceuticals, a Berkeley, CA-based clinical-stage biopharmaceutical company, raised $50M in funding.
The round was led by Hevolution with participation from existing investors Apollo Health Ventures, Sofinnova Investments, venBio, Evotec and b2venture.
The company intends to use the funds for the completion of the Phase 1 clinical trial in healthy volunteers and prepare for the start of a subsequent Phase 2 clinical trial in adult and pediatric patients with TSC refractory epilepsy.
Led by CEO Allison Hulme, Aeovian Pharmaceuticals is a clinical-stage biopharmaceutical company developing targeted and highly selective small molecules to restore cellular metabolic quality control, thereby addressing the dysregulated growth and hyperactive signaling found in certain rare genetic and age-related diseases. Its lead development candidate, AV078, is a first-in-class CNS penetrant selective mTORC1 inhibitor being developed for the treatment of TSC refractory epilepsy and is currently being evaluated in a Phase 1 trial. TSC is a rare genetic disorder caused by the hyperactive signaling of mTORC1. Beyond AV078, the company has developed a proprietary library of small molecules, which are potent and selective inhibitors of either mTORC1 or CD38 and have the potential to precisely target the underlying biology of multiple rare and age-related diseases.
The company has also expanded its leadership team with the appointment of seasoned industry veterans William Greene, M.D., Chief Investment Officer at Hevolution, and Justin Gover, former Chief Executive Officer of GW Pharmaceuticals, to the company’s Board of Directors, and appointed Micah Zajic as Chief Financial Officer.
FinSMEs
29/03/2024