Asceneuron's $100M Series C Funding Boosts Alzheimer's Disease Research
July 18, 2024, 3:50 pm
Location: Switzerland, Vaud, Lausanne
Employees: 1-10
Founded date: 2012
Total raised: $130.85M
Asceneuron, a Lausanne-based clinical-stage biotech company, has recently announced the successful completion of a $100 million Series C financing round. This significant funding boost, led by Novo Holdings and supported by EQT Life Sciences - LSP Dementia Fund, OrbiMed, and SR One, along with existing investors M Ventures, Sofinnova Partners, GSK Equities Investments Limited, and Johnson & Johnson Innovation – JJDC, Inc., marks a pivotal moment in the company's journey towards advancing research in the field of neurodegenerative diseases, particularly Alzheimer's disease.
At the heart of Asceneuron's research lies a focus on developing small molecules that target tau protein aggregation, a key factor in the progression of neurodegenerative disorders. The company's lead asset, ASN51, is poised to enter Phase 2 clinical development for the treatment of Alzheimer's disease, offering a potential breakthrough in the quest for effective therapies for this debilitating condition.
Under the leadership of CEO Barbara Angehrn Pavik, Asceneuron has positioned itself as a frontrunner in the development of orally bioavailable therapeutics for neurodegenerative disorders with high unmet medical needs. With a robust pipeline that includes clinical-stage small molecule OGA inhibitors like ASN90 for progressive supranuclear palsy (PSP) and the promising ASN51 for Alzheimer's disease, Asceneuron is committed to addressing the challenges posed by conditions such as Parkinson's disease, amyotrophic lateral sclerosis (ALS), and other neurodegenerative indications.
The successful completion of the Series C financing round has not only provided Asceneuron with the necessary resources to advance its research but has also attracted a distinguished group of individuals to its board of directors. Naveed Siddiqi of Novo Holdings, Philip Scheltens of EQT Life Sciences – LSP Dementia Fund, and Dina Chaya of OrbiMed are among the new additions to the board, joining existing investor directors Henrijette Richter of Sofinnova Partners and Hakan Goker of M Ventures. With a shared vision for driving innovation in the field of neurodegenerative diseases, this diverse group of board members is poised to guide Asceneuron towards new milestones in its quest to transform the landscape of Alzheimer's disease treatment.
In a statement following the funding announcement, Naveed Siddiqi of Novo Holdings emphasized the transformative potential of Asceneuron's research, particularly in light of the evolving landscape of Alzheimer's disease treatment. With millions of individuals affected by this devastating condition and limited therapeutic options available, the development of innovative therapies like ASN51 represents a beacon of hope for patients and caregivers alike.
Barbara Angehrn Pavik, CEO of Asceneuron, expressed her excitement at the validation of the company's OGA inhibitor pipeline and leadership in the field of tauopathies. With plans to advance ASN51 into Phase 2 clinical development, Asceneuron is poised to make a significant impact on the treatment options available for individuals living with Alzheimer's disease, offering a potential paradigm shift in the approach to managing this complex condition.
As Asceneuron embarks on this new chapter of growth and innovation, the company's commitment to advancing research in neurodegenerative diseases remains unwavering. With a dedicated team of researchers, clinicians, and investors driving its mission forward, Asceneuron is poised to make a lasting impact on the lives of those affected by Alzheimer's disease and other neurodegenerative disorders.
At the heart of Asceneuron's research lies a focus on developing small molecules that target tau protein aggregation, a key factor in the progression of neurodegenerative disorders. The company's lead asset, ASN51, is poised to enter Phase 2 clinical development for the treatment of Alzheimer's disease, offering a potential breakthrough in the quest for effective therapies for this debilitating condition.
Under the leadership of CEO Barbara Angehrn Pavik, Asceneuron has positioned itself as a frontrunner in the development of orally bioavailable therapeutics for neurodegenerative disorders with high unmet medical needs. With a robust pipeline that includes clinical-stage small molecule OGA inhibitors like ASN90 for progressive supranuclear palsy (PSP) and the promising ASN51 for Alzheimer's disease, Asceneuron is committed to addressing the challenges posed by conditions such as Parkinson's disease, amyotrophic lateral sclerosis (ALS), and other neurodegenerative indications.
The successful completion of the Series C financing round has not only provided Asceneuron with the necessary resources to advance its research but has also attracted a distinguished group of individuals to its board of directors. Naveed Siddiqi of Novo Holdings, Philip Scheltens of EQT Life Sciences – LSP Dementia Fund, and Dina Chaya of OrbiMed are among the new additions to the board, joining existing investor directors Henrijette Richter of Sofinnova Partners and Hakan Goker of M Ventures. With a shared vision for driving innovation in the field of neurodegenerative diseases, this diverse group of board members is poised to guide Asceneuron towards new milestones in its quest to transform the landscape of Alzheimer's disease treatment.
In a statement following the funding announcement, Naveed Siddiqi of Novo Holdings emphasized the transformative potential of Asceneuron's research, particularly in light of the evolving landscape of Alzheimer's disease treatment. With millions of individuals affected by this devastating condition and limited therapeutic options available, the development of innovative therapies like ASN51 represents a beacon of hope for patients and caregivers alike.
Barbara Angehrn Pavik, CEO of Asceneuron, expressed her excitement at the validation of the company's OGA inhibitor pipeline and leadership in the field of tauopathies. With plans to advance ASN51 into Phase 2 clinical development, Asceneuron is poised to make a significant impact on the treatment options available for individuals living with Alzheimer's disease, offering a potential paradigm shift in the approach to managing this complex condition.
As Asceneuron embarks on this new chapter of growth and innovation, the company's commitment to advancing research in neurodegenerative diseases remains unwavering. With a dedicated team of researchers, clinicians, and investors driving its mission forward, Asceneuron is poised to make a lasting impact on the lives of those affected by Alzheimer's disease and other neurodegenerative disorders.