Aeovian Initiates Phase 1 Clinical Trial with AV078, Expands Leadership, and Secures $50M in New Funding

Aeovian Pharmaceuticals, a biopharmaceutical firm focused on creating innovative therapeutics that target the mTORC1 pathway, has initiated its Phase 1 clinical trial for AV078. This is a pioneering compound designed to treat seizures linked to Tuberous Sclerosis Complex (TSC). The company has recently bolstered its leadership with new appointments, including William Greene, MD, from Hevolution, and Justin Gover, the previous CEO of GW Pharmaceuticals, who have joined the Board of Directors. Additionally, Micah Zajic has been named the new Chief Financial Officer.

The company has secured a $50 million funding round, primarily led by Hevolution, with participation from existing investors such as Apollo Health Ventures, Sofinnova Investments, venBio, Evotec, and b2venture. This capital will be instrumental in finalizing the Phase 1 trial involving healthy volunteers and in gearing up for a Phase 2 trial aimed at adult and pediatric patients suffering from TSC-related epilepsy.

Dr. Greene, with his extensive background in biotech leadership, investment, and clinical practice, expressed enthusiasm about the partnership and the potential of Aeovian's platform for mTORC1 inhibitors to tackle significant medical needs, ranging from rare neurological disorders to common age-related diseases. Justin Gover, with his significant experience in the biotech sector, shared his commitment to epilepsy patients and the potential of AV078 as a novel treatment option.

Aeovian Pharmaceuticals, with its lead candidate AV078, is advancing in the clinical trial process for TSC epilepsy treatment. The company's pipeline also includes a proprietary collection of small molecules that hold promise for treating a variety of rare and age-related diseases through precise targeting of underlying biological mechanisms.

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