Asceneuron SA, an emerging leader in the development of first-in-class small molecules targeting tauopathies such as progressive supranuclear palsy (PSP), Alzheimer’s disease and related neurodegenerative diseases, announced the closing of a Series A financing of CHF 30 million (USD 30.6 million). The financing round was led by Sofinnova Partners which becomes the largest financial investor in the company. They are joined by new investors SR One, Kurma Partners and Johnson & Johnson Innovation – JJDC, Inc. (JJDC). The company’s founding investors MS Ventures also participated. In conjunction with this round, Henrijette Richter of Sofinnova Partners, Deborah Harland of SR One, Vanessa Malier of Kurma Partners and Hakan Goker of MS Ventures have joined the Company’s Board of Directors along with a representative of JJDC.
Asceneuron SA was created in 2012 as part of the Entrepreneur Partnership Program, implemented by MS Ventures to support the creation of spin-off companies from Merck Serono, and has since then made rapid progress under the leadership of the founders Dirk Beher, Chief Executive Officer and Christoph Wiessner, Chief Operating Officer.
The proceeds from this financing round will support the development of Asceneuron’s orally bioavailable O-GlcNAcase inhibitor ASN-561 up to the completion of a pivotal proof-of- concept trial in the orphan tauopathy PSP. ASN-561 has the potential to become the first oral treatment for tauopathies, a group of neurodegenerative diseases which includes several orphan conditions.
Source: Asceneuron