Vedana Therapeutics emerged from stealth with $46 million in Series A funding to advance next-generation therapies for migraine prevention.
The funding round was co-led by Westlake BioPartners and Canaan Partners, with participation from Dawn Biopharma and Alexandria Venture Investments. The company plans to use the proceeds to advance its portfolio of internally discovered, potentially best-in-class subcutaneously delivered antibodies targeting clinically validated pathways for migraine prevention.
Vedana is developing therapies designed to address limitations in current migraine treatments. While first-generation CGRP therapies represented a major advancement for migraine patients, Vedana said about two-thirds of patients still do not achieve optimal control of their migraine.
The company is focused on biology beyond CGRP, including pituitary adenylate cyclase-activating polypeptide, or PACAP, which plays a key role in migraine physiology and is emerging as a complementary approach for treatment. Vedana’s lead program is a next-generation anti-PACAP antibody, and its second program is a bispecific antibody targeting both PACAP and CGRP.
Vedana said targeting PACAP alone offers a new approach beyond currently approved migraine drugs, while its dual PACAP and CGRP approach could potentially deliver additional efficacy for patients who do not experience sufficient relief from monotherapies.
The company was built by migraine drug development experts and industry leaders with experience across migraine biology, antibody engineering, clinical development, and commercialization. Vedana’s executive leadership team includes co-founder and CEO Anurag Agarwal, co-founder and Chief Scientific Officer Leon Garcia, and Chief Medical Officer Ernesto Aycardi.
Garcia previously led the discovery and development of anti-CGRP and PACAP antibodies at Alder BioPharmaceuticals, which was acquired by Lundbeck. Aycardi brings experience across all phases of drug development and previously managed pivotal and post-marketing studies for AJOVY.
Vedana is also supported by a board and advisory group that includes leaders involved in the development of major migraine therapies, including Rob Lenz, Marcelo Bigal, Steven James, Messoud Ashina, David Dodick, Andy Russo, and Frank Porreca.
KEY QUOTES:
“First-generation CGRP therapies were a major step forward in the treatment of migraine, but most patients are still not adequately controlled. We are now focused on what comes next — targeting biology beyond CGRP, like PACAP and combinations thereof, to deliver on our vision of migraine freedom for all patients.”
Anurag Agarwal, Ph.D., co-founder and CEO of Vedana Therapeutics
“Vedana was founded by a team that has spent years developing antibody therapies against CGRP and PACAP, giving us deep insight into both the promise and the limitations of existing approaches. Drawing on that experience, we designed the next-generation of highly potent long half-life antibodies, targeting self-injecting options for patients in the convenience of their home.”
Leon Garcia, Ph.D., co-founder and Chief Scientific Officer of Vedana Therapeutics
“Vedana’s team has an unparalleled track record and has executed efficiently in generating multiple molecules with best-in-class potential. As the migraine market continues to evolve, Vedana’s leadership is well positioned to identify and address patient needs.”
Mira Chaurushiya, Ph.D., managing director at Westlake BioPartners
“The Vedana team represents the deepest concentration of migraine expertise we have seen. Importantly, they bring together the lived experiences from multiple migraine companies and medicines in large and small biotech. They are focused entirely on what the next generation of medicines needs to deliver for patients. We are proud to back them.”
Julie Grant, general partner at Canaan Partners
