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- Augustine Therapeutics, focused on novel treatments for neurodegenerative and cardio metabolic diseases, Wednesday said that it has raised €17 million ($18.5 million) in the first closing of its Series A round.
- The financing was led by Asabys Partners, with participation from Eli Lilly and Company (NYSE:LLY), and the U.S.-based Charcot-Marie-Tooth Research Foundation. Current investors AdBio partners, V-Bio Ventures, PMV, VIB and Gemma Frisius Fund also joined the round.
- Augustine Therapeutics also announced the appointment of Gerhard Koenig as Executive Chairman of its Board of Directors. Koenig has been a Non-Executive Director on Augustine’s Board since May 2022, and currently serves as CEO and Founder of Arkuda Therapeutics, and is also a Board Member of Vigil Therapeutics (NASDAQ:VIGL).
- The proceeds from this first close will be used to advance Augustine’s lead candidate, AGT100216, into a Phase 1/2 first-in-human clinical trial in 2025.
- Source: Press Release