Asceneuron Raises $100M in Series C Financing
Summary
The round was led by Novo Holdings with new investment from EQT Life Sciences – LSP Dementia Fund, OrbiMed and SR One, alongside participation from existing investors M Ventures, Sofinnova Partners, GSK Equities Investments Limited and Johnson & Johnson Innovation – JJDC, Inc. The company intends to use the funds to advance its lead asset ASN51 into Phase 2 clinical development for the treatment of Alzheimer’s disease. Led by CEO Barbara Angehrn Pavik, Asceneuron is a clinical stage biotech company focused on the development of orally bioavailable therapeutics for debilitating neurodegenerative disorders with high unmet medical need. It is also planning to advance its pre-clinical development pipeline in Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and other neurodegenerative indications. In connection with the financing, Naveed Siddiqi of Novo Holdings, Philip Scheltens of EQT Life Sciences – LSP Dementia Fund and Dina Chaya of OrbiMed will join the Asceneuron board of directors, chaired by Abbas Hussain.