Aeovian moves seizure candidate into the clinic, raises $50M
28 Mar 2024
Phase 1Executive ChangePhase 2
Aeovian Pharmaceuticals raised $50 million to fuel clinical trials of its lead candidate, AV078, to treat a rare, genetic form of epilepsy.
The round, which was led by Hevolution, comes as Aeovian dosed the first participant in a Phase I trial assessing the safety of AV078 in healthy volunteers. The compound is a central nervous system-penetrant selective mTORC1 inhibitor in development for tuberous sclerosis complex (TSC) epilepsy.
"TSC is a genetic disorder of mTORC1 hyperactivation,” CEO Allison Hulme said. “AV078 has the potential to be transformative for patients with TSC refractory epilepsy, a patient population in need of therapeutic options with better efficacy and tolerability.”
The financing – which saw participation from existing investors Apollo Health Ventures, Sofinnova Investments, venBio, Evotec and b2venture – is expected to provide Aeovian enough runway to finish the Phase I study and prepare for a Phase II trial in adult and paediatric patients with TSC refractory epilepsy.
Aeovian also welcomed new faces to its executive team on Thursday. Hevolution’s William Greene joined the board along with Justin Gover, former CEO of GW Pharmaceuticals. Additionally, Micah Zajic was named as chief financial officer; he previously served as chief business officer of Lexeo Therapeutics.
For more details,please visit the original website
The content of the article does not represent any opinions of Synapse and its affiliated companies. If there is any copyright infringement or error, please contact us, and we will deal with it within 24 hours.
Organizations
Indications
Targets
Drugs
Hot reports
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Leverages most recent intelligence information, enabling fullest potential.