Augustine Therapeutics, a pioneering biotechnology firm specializing in innovative therapies for neurodegenerative and cardiometabolic diseases, announced a significant milestone today with the successful completion of a EUR 17 million (USD 18.5 million) first closing of its Series A funding round. This financing, led by Asabys Partners and supported by Eli Lilly and Company and the Charcot-Marie-Tooth Research Foundation, alongside existing investors AdBio Partners, V-Bio Ventures, PMV, VIB, and Gemma Frisius Fund, underscores confidence in Augustine’s groundbreaking approach.
At the heart of Augustine Therapeutics’ mission is the development of novel, potent, and subtype-selective small-molecule inhibitors targeting the cytosolic Histone DeACetylase 6 (HDAC6) enzyme. These inhibitors hold promise in addressing neurological disorders such as Charcot-Marie-Tooth (CMT) disease and peripheral neuropathies induced by chemotherapy, as well as neurodegenerative diseases like Amyotrophic Lateral Sclerosis (ALS). The lead candidate, AGT100216, a peripherally restricted HDAC6 inhibitor, is poised to advance into a Phase 1/2 clinical trial in 2025, supported by the proceeds from this funding round.
“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,” stated Sylvain Celanire, CEO of Augustine Therapeutics. “Our HDAC6 inhibitors represent a paradigm shift in treating severe neurological conditions, offering hope for significant therapeutic advancements.”
Clara Campàs, Founding and Managing Partner at Asabys Partners, highlighted Augustine’s innovative approach and the potential impact of their molecules across a broad spectrum of diseases. “Augustine’s chemically distinct HDAC6 inhibitors have the potential to overcome limitations seen in previous therapies, presenting a compelling opportunity to transform patient outcomes,” Campàs commented.
In conjunction with the financing, Augustine Therapeutics also announced the appointment of Gerhard Koenig as Executive Chairman of its Board of Directors. Koenig, CEO of Arkuda Therapeutics and a seasoned industry leader, brings extensive expertise in neurodegenerative disease research and strategy.
Augustine Therapeutics, founded in 2019 as a spin-off from VIB-KU Leuven, continues to build upon pioneering research led by Prof. Ludo Van Den Bosch. For more information on Augustine Therapeutics and its innovative approach to treating severe neurological and cardiometabolic diseases,. www.augustinetx.com.
Editorial Opinion: Augustine Therapeutics’ Strategic Funding Propels Neurological Disease Treatment
Augustine Therapeutics’ successful EUR 17 million Series A funding round represents a pivotal moment in the biotechnology sector, particularly for advancements in treating severe neurological and cardiometabolic diseases. This funding infusion, led by Asabys Partners and supported by Eli Lilly and Company and the Charcot-Marie-Tooth Research Foundation, underscores the industry’s confidence in Augustine’s innovative approach to addressing critical unmet medical needs. The focus on developing selective small-molecule inhibitors targeting HDAC6 demonstrates Augustine Therapeutics’ commitment to pushing the boundaries of therapeutic efficacy in neurodegenerative diseases. The upcoming Phase 1/2 clinical trials for AGT100216, their lead candidate, mark a crucial step forward in translating promising preclinical results into potential breakthroughs for patients.
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