Augustine Therapeutics Secures EUR 17 Million in Series A Funding to Propel Lead Candidate into Clinical Development for Neurological Diseases

Augustine Therapeutics, a pioneering biotech firm dedicated to advancing treatments for neurodegenerative and cardiometabolic diseases, has successfully closed its Series A funding round with EUR 17 million (USD 18.5 million). Asabys Partners led the financing, joined by Eli Lilly and Company and the Charcot-Marie-Tooth Research Foundation from the US, alongside existing investors AdBio partners, V-Bio Ventures, PMV, VIB, and Gemma Frisius Fund.

The company specializes in developing novel, potent, and subtype-selective small-molecule inhibitors targeting the cytosolic Histone DeACetylase 6 (HDAC6) enzyme, known for its therapeutic potential in neurological disorders and cardiometabolic diseases. Augustine’s next-generation HDAC6 inhibitors promise advancements over current hydroxamate-based inhibitors, specifically designed to reverse pathophysiological changes in diseases like Charcot-Marie-Tooth (CMT), chemotherapy-induced peripheral neuropathies (CIPN), and neurodegenerative conditions such as Amyotrophic Lateral Sclerosis (ALS).

Funds raised will accelerate Augustine’s lead candidate, AGT100216, into a Phase 1/2 clinical trial by 2025. AGT100216, a peripherally restricted and selective HDAC6 inhibitor, demonstrates unique efficacy in CMT and CIPN preclinical studies. Additionally, the financing supports pipeline expansion, including the development of next-generation candidates for both cardiometabolic and neurodegenerative diseases, as well as team expansion.

Sylvain Celanire, CEO of Augustine Therapeutics, expressed gratitude for investor support, highlighting the company’s commitment to developing transformative therapies. Clara Campàs of Asabys Partners emphasized Augustine’s innovative molecules and their potential to address diverse indications effectively. Augustine also announced the appointment of Gerhard Koenig as Executive Chairman of the Board, bringing substantial industry expertise to guide strategic growth.

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