Augustine BioSecures $85M for Neuro and Cardio Pills

Augustine Therapeutics, a biotechnology company headquartered in Leuven, Belgium, has successfully secured €77.7 million (approximately $85 million) in a Series A financing round. This significant investment will propel Augustine’s efforts in developing treatments for Charcot-Marie-Tooth (CMT) disease, various neurodegenerative conditions, and cardiometabolic disorders. The financing round was co-led by Novo Holdings and Jeito Capital, with additional contributions from Eli Lilly, Asabys Partners in Barcelona, AdBio in Paris, and several other investment firms, including the CMT Research Foundation.

Augustine Therapeutics is dedicated to creating oral medication that targets the cytosolic histone deacetylase 6 enzyme, or HDAC6. The foundation of the company is based on research conducted by Ludo Van Den Bosch at the VIB-KU Leuven Center for Brain and Disease Research. Van Den Bosch chairs the company’s scientific advisory board, underlining the strong scientific backing of the company’s initiatives.

CEO Gerhard Koenig shared in an interview that the newly acquired funds will facilitate the advancement of Augustine’s leading HDAC6 inhibitor, AGT-100216, into Phase 1 clinical trials within the current year. Additionally, the Series A funding will support the acquisition of Phase 2 proof-of-concept data for the drug in CMT patients. CMT, a disorder of the peripheral nervous system, affects roughly three million individuals globally, often leading to debilitating muscle weakness in the legs, arms, and fingers.

In addition to addressing CMT, Augustine is exploring the potential of other HDAC6 inhibitors for use in cardiometabolic disorders and unspecified central nervous system (CNS) disorders. Koenig indicated that the cardiometabolic program would progress through Phase 1 with the help of the Series A funding, and the CNS program would advance to the Investigational New Drug (IND) stage.

Koenig also expressed that their selection of investors might hint at their areas of interest. Novo Holdings, the major shareholder of Novo Nordisk, and Eli Lilly are at the forefront of cardiometabolic medicine innovation with their GLP-1 drugs, semaglutide and tirzepatide, both approved for treating diabetes and obesity.

HDAC6 inhibition is a burgeoning area of interest for many companies due to its involvement in numerous diseases and aging-related cellular processes. For instance, Novartis made a significant $80 million upfront acquisition of a Phase 1 asset from Handing Chong Kun Dang Pharmaceutical in late 2023, indicating their interest in this field. Although Novartis has been reticent about the development of this candidate, the licensing agreement remains active, as confirmed by a spokesperson.

Tenaya Therapeutics is also investigating an HDAC6 inhibitor for heart failure with preserved ejection fraction, aligning with Augustine’s interest in that field. However, Tenaya has primarily focused on its investigational gene therapies, with limited updates on their HDAC6 inhibitor named TN-301.

Augustine Therapeutics’ approach to HDAC6 inhibition involves a unique method that does not produce hydroxamate or hydrazine. Koenig emphasized the significance of having the right chemical matter to address chronic conditions that require a specific safety profile.

The company employs nearly 20 individuals, and Koenig underscored the centrality of science and data in guiding Augustine’s journey forward. Reflecting on his previous ventures, Koenig recounted how Johnson & Johnson acquired his former startup, Arkuda Therapeutics, for its promising pipeline of "lysosomal function enhancers," with Eli Lilly also having been an investor.