Augustine Therapeutics, a pioneering biotech company focused on novel treatments for neurodegenerative and cardiometabolic diseases, announced that it has raised €17 million in the first closing of its Series A round. This funding round was led by Asabys Partners, with participation from Eli Lilly and Company, and the US-based Charcot-Marie-Tooth Research Foundation. The current investors AdBio partners, V-Bio Ventures, PMV, VIB and Gemma Frisius Fund also joined the round.
Augustine Therapeutics is developing novel, potent, and subtype-selective small-molecule inhibitors of the cytosolic Histone DeACetylase 6 (HDAC6) enzyme, which is a class II histone deacetylase. And HDAC6 is a well-known molecular target with strong biological rationale for neurological disorders and high therapeutic potential in cardiometabolic disease.
The inhibition of HDAC6 plays a major role in axonal protection and regeneration by controlling the efficiency of internal axonal transport. And Augustine’s novel generation of HDAC6 inhibitors (HDAC6i) are chemically distinct and superior to the first generation hydroxamate-based inhibitors developed so far, enabling them to safely and selectively reverse and inhibit the pathophysiological changes associated with neuromuscular diseases such as Charcot-Marie-Tooth (CMT), peripheral neuropathies induced by chemotherapies (CIPN), and neurodegenerative diseases such as Amyotrophic Lateral Sclerosis (ALS).
The proceeds from this first funding closing will be used to advance Augustine’s lead candidate AGT100216 into a Phase 1/2 first-in-human clinical trial in 2025. And AGT100216 is a peripherally restricted and selective small molecule HDAC6i with a unique mechanism-of-action that has strong potential in CMT and CIPN. And the funding will further support the development of the company’s pipeline, including the advancement of its next-generation drug candidates with additional peripheral-restricted or brain penetrant properties for cardiometabolic and neurodegenerative diseases, and fund the expansion of the Augustine executive and R&D team.
In connection with the funding, Clara Campàs, Founding and Managing Partner at Asabys Partners, has joined Augustine Therapeutics’ Board of Directors. And Isabel Jiménez, Associate at Asabys, and a representative from Eli Lilly and Company, will join as Board Observers.
Augustine Therapeutics also announced the appointment of Gerhard Koenig as Executive Chairman of its Board of Directors. And Gerhard Koenig has been a Non-Executive Director on Augustine’s Board since May 2022, and currently serves as CEO and Founder of Arkuda Therapeutics, a Boston-based biotech company, focused on the development of lysosomal function enhancers in neurodegenerative diseases. Gerhard is also a Board Member of Vigil Therapeutics focused on rectifying Microglial dysfunction in neurodegenerative diseases.
KEY QUOTES:
“The support from both new and existing investors in this first closing is a reflection of the tremendous efforts and scientific excellence of our team in advancing a unique pipeline of potential breakthrough therapeutics for patients. Our HDAC6 inhibitors have unique properties designed to achieve meaningful benefits for patients with neurodegenerative and cardiometabolic diseases. Our first clinical candidate, AGT100216, has demonstrated impressive preclinical efficacy in CMT studies highlighting its ability to halt disease progression, significantly reverse the disease phenotype and rescue axonal integrity in a dose-dependent manner. We are looking forward to capitalizing on our unique pipeline with the strategic insights we are gaining from our Board and Executive Chairman Gerhard Koenig.”
– Sylvain Celanire, CEO of Augustine Therapeutics
“Augustine’s molecules are unique, selective and potent, providing a competitive advantage in modulating a validated target with potential impact in a large variety of indications. Augustine’s novel generation of chemically distinct HDAC6 inhibitors are unprecedented and have the potential to overcome some of the typical limitations of other HDAC6 inhibitors currently being tested in early clinical development. We are thrilled to have joined a strong consortium of investors alongside Eli Lilly and Company, the current investors and Augustine’s exceptional team to further develop these molecules to clinical proof of concept.”
– Clara Campàs, Founding and Managing Partner at Asabys Partners
