manassanant pamai 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 More on Eli Lilly, Vigil Neuroscience, etc. Eli Lilly: Throwing Its Weight Around - But, For How Long? (Technical Analysis) Eli Lilly: The Party Is Probably Nearing The End Eli Lilly And Alzheimer's Disease: The Paucity Of Progress ResMed cut at Oppenheimer after Eli Lilly’s tirzepatide sleep apnea data Lilly gains approval of lebrikizumab in Canada for atopic dermatitis.
