Augustine Therapeutics secures EUR 78M / USD 85M in Series A funding

Augustine Therapeutics NV, a biotech firm dedicated to creating innovative therapies for neuromuscular, neurodegenerative, and cardio-metabolic disorders, has successfully completed a Series A funding round, amassing EUR 77.7 million (USD 84.8 million). This financing phase was oversubscribed and co-led by Novo Holdings and Jeito Capital, with significant backing from existing investors, including Asabys Partners, Eli Lilly and Company, AdBio Partners, V-Bio Ventures, PMV, VIB, Gemma Frisius Fund, the US-based Charcot-Marie-Tooth (CMT) Research Foundation, and Newton Biocapital.

The funds raised will advance the clinical development of Augustine's lead compound, AGT-100216, intended for treating Charcot-Marie-Tooth (CMT) disease. CMT is the most prevalent hereditary disorder affecting the peripheral nervous system, impacting around three million people globally. Augustine plans to commence Phase I clinical trials for AGT-100216 soon. Additionally, the company is exploring the development of next-generation HDAC6 inhibitors for significant cardio-metabolic and neurodegenerative diseases.

Augustine Therapeutics focuses on the inhibition of the cytosolic Histone DeACetylase 6 (HDAC6) enzyme, a promising strategy in addressing neurodegeneration and cellular aging processes. The company has crafted a distinctive approach to selectively inhibit HDAC6 while retaining its advantageous non-catalytic functions. This approach, which does not produce hydroxamate or hydrazine, aims to overcome prior limitations and has considerable potential for treating various diseases.

The company was established based on pioneering research by Prof. Ludo Van Den Bosch at the VIB-KU Leuven Center for Brain and Disease Research. He identified HDAC6 inhibition as a promising method for treating CMT and other neuropathies. Augustine Therapeutics was initially formed and funded by V-Bio Ventures, AdBio Partners, VIB, PMV, and Gemma Frisius Fund. Recently, Gerhard Koenig, PhD, who has been with the company since June 2024 as Executive Chairman, was appointed CEO in January 2025.

In addition to AGT-100216, Augustine is moving forward with two other discovery programs targeting HDAC6 inhibitors that are either peripheral-restricted or capable of crossing the blood-brain barrier, aimed at unspecified neurodegenerative and cardio-metabolic conditions.

CEO Gerhard Koenig expressed enthusiasm about the substantial financing, highlighting the unique and innovative medicinal chemistry at Augustine's core that offers a highly selective mechanism of action. He emphasized that while HDAC6's therapeutic potential is well acknowledged, prior attempts at drug development have been inadequate, especially for chronic conditions. Augustine's novel approach is poised to overcome these challenges, aiming to transform treatment paradigms across neurological and cardio-metabolic diseases.

Commenting on the investment, Emmanuelle Coutanceau, PhD, from Novo Holdings, underscored the promise of HDAC6 inhibition in various medical fields, expressing excitement to work with Augustine's leading management team. She noted that Augustine is expanding its activities in Denmark to leverage unique resources and talent pools for exploring HDAC6 inhibitors in cardio-metabolic diseases.

Mehdi Ainouche, PharmD, from Jeito Capital, highlighted the investment as indicative of Augustine's potential to deliver groundbreaking therapeutic innovations, particularly in areas with limited treatment options. He expressed eagerness to collaborate with Augustine to expedite the clinical development process and bring these advances to patients.

Both Emmanuelle Coutanceau and Mehdi Ainouche have joined Augustine Therapeutics' Board of Directors, with additional board observers from Jeito Capital and Novo Holdings.

In summary, Augustine Therapeutics is at the forefront of developing selective HDAC6 inhibitors with potential applications beyond CMT, targeting various neurodegenerative and cardio-metabolic diseases. The company's innovative approach and substantial financial backing from leading investors position it well for advancing its clinical endeavors and expanding its therapeutic impact.