EQT Life Sciences announced it co-led a €51 million Series B financing in Exciva, a clinical-stage biopharmaceutical company developing treatments for behavioral symptoms associated with Alzheimer’s disease, with proceeds earmarked to move the company’s lead program into a Phase 2 study.
The round was co-led by EQT Life Sciences through its LSP Dementia Fund alongside Gimv. Additional participants included Fountain Healthcare Partners, LifeArc, Carma Fund, and Modi Ventures, as well as returning investors Andera Partners and LBBW.
The financing will fund a Phase 2 clinical trial of Exciva’s lead candidate, Deraphan, for agitation associated with Alzheimer’s disease. The company said the trial will be conducted across the European Union, the United States, and Canada.
Exciva is positioning Deraphan as a new option for neuropsychiatric and behavioral symptoms in Alzheimer’s, which the company said can affect a large share of patients with severe disease and contribute to caregiver burden, increased healthcare utilization, and reduced quality of life. According to Exciva, Deraphan combines two clinically validated compounds, including one new chemical entity, and has shown encouraging safety and tolerability in Phase 1, with the potential for a differentiated efficacy and safety profile versus existing approaches that can be limited by boxed warnings, side effects, or inconsistent outcomes.
New board members: As part of the financing, EQT Life Sciences will take board representation at Exciva, with Philip Scheltens joining as a Director and Juliette Lee serving as a Board Observer.
KEY QUOTES:
“We are delighted that we could attract funding from both new and existing investors, supporting our belief that our compound is promising. If the results of the Phase 2 trials are positive, it would be a significant milestone in symptomatic treatment options for patients with AD.”
François Conquet, CEO, Exciva
“This investment illustrates the potential of Exciva to bring exciting innovation to a therapeutic area where Alzheimer’s patients have limited or no treatment options. We are delighted to co-lead this financing to help to realize Exciva’s potential, which stands out for both the quality of its science and the expertise of its team. We look forward to bringing this innovation to patients.”
Philip Scheltens, MD, PhD, Partner, EQT Life Sciences
