-- Oversubscribed financing brings together leading syndicate of life sciences investors -- -- Proceeds to support clinical development of first-in-class therapies for neurological disorders – BOSTON , Oct. 30, 2024 /PRNewswire/ -- Axonis Therapeutics, a biotechnology company focused on the development of novel neuromedicines, announced today the successful completion of an oversubscribed $115 million Series A financing. Proceeds from the financing will be used to advance Axonis' lead development candidate, AXN-027, through clinical proof-of-concept in patients.
AXN-027 is a first-in-class oral small molecule designed to potentiate the function of KCC2, a major CNS chloride transporter essential for inhibitory neurotransmission, for the treatment of epilepsy and pain. Proceeds will also enable the development of next generation compounds targeting KCC2 in these and other indications, including psychiatric and neurodevelopmental disorders. Cormorant Asset Management and venBio Partners co-led the financing with significant investments from Sofinnova Investments, MRL Ventures Fund, Perceptive Advisors, Lumira Ventures and Solasta Ventures.
In conjunction with this financing, Axonis named Raymond J. Kelleher , M.D.
, Ph.D., Managing Director at Cormorant Asset Management and Jonathan Leff , M.
D., Executive Partner, Private Equity, from Sofinnova Investments to its Board of Directors. Eos Bioinnovation, Hatteras Venture Partners, SCI Ventures, Alexandria Venture Investments, Tac.