Asceneuron raises USD 100 million to advance Alzheimer’s treatment
Lausanne - Asceneuron has secured USD 100 million in Series C funding to advance its mission of developing OGA inhibitors for neurodegenerative diseases like Alzheimer’s.
Asceneuron, a clinical-stage biotech company based in Lausanne, has successfully closed an oversubscribed Series C financing round, raising USD 100 million. The round was led by Novo Holdings, with new investments from EQT Life Sciences – LSP Dementia Fund, OrbiMed and SR One, alongside existing investors M Ventures, Sofinnova Partners, GSK Equities Investments Limited and Johnson & Johnson Innovation – JJDC, Inc.
The substantial investment will be used to advance the clinical development of Asceneuron’s innovative OGA inhibitors for the treatment of neurodegenerative diseases. The primary focus will be on advancing ASN51, an oral, small molecule OGA inhibitor, into Phase 2 clinical trials in Alzheimer’s disease. ASN51 is designed to prevent tau protein aggregation, which is implicated in the progression of Alzheimer’s disease, thereby potentially slowing the progression of the disease. In addition, OGA inhibition has shown promise in preventing protein aggregation in other neurodegenerative diseases, including Parkinson’s disease and amyotrophic lateral sclerosis.
“Alzheimer’s disease is undergoing a transformational moment. Millions are afflicted by this devastating disease and there are very few therapeutic options. Validated biomarkers are allowing for more focused and rapid development. We are now witnessing the approvals of the first disease-modifying antibody-based injectable therapies. Asceneuron’s innovative oral small molecule drug targeting intracellular tau offers the potential for a paradigm shift in the way this neurodegenerative disease is treated,” said Naveed Siddiqi, MD, Senior Partner, Venture Investments, Novo Holding.
Asceneuron has already completed five Phase 1 clinical trials demonstrating complete central nervous system uptake and high OGA enzyme occupancy. The company plans to initiate its first Phase 2 clinical trial later this year, marking a significant milestone in its mission to develop effective treatments for Alzheimer’s disease.
Barbara Angehrn Pavik, Chief Executive Officer of Asceneuron, commented: “This high caliber 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, recognizing its potential to significantly expand treatment options for patients with Alzheimer’s disease.” ggba
