Augustine Therapeutics, a pioneering biotech firm dedicated to innovative therapies for neurodegenerative and cardiometabolic diseases, has successfully secured EUR 17 million (USD 18.5 million) in the initial closing of its Series A funding round. The financing was led by Asabys Partners, with contributions from Eli Lilly and Company, alongside the Charcot-Marie-Tooth Research Foundation based in the United States. Existing investors AdBio partners, V-Bio Ventures, PMV, VIB, and Gemma Frisius Fund also participated in this round.
“This initial closing support from both new and existing investors underscores the remarkable efforts and scientific excellence of our team in advancing a unique pipeline of potential breakthrough therapeutics,” remarked Sylvain Celanire, CEO of Augustine Therapeutics.
Augustine Therapeutics specializes in developing best-in-class, potent, and subtype-selective small-molecule inhibitors targeting the cytosolic Histone DeACetylase 6 (HDAC6) enzyme, a crucial player in neurological disorders and with significant therapeutic potential in cardiometabolic diseases. Their novel HDAC6 inhibitors (HDAC6i) represent a chemically distinct and superior generation compared to existing hydroxamate-based inhibitors. This advancement allows them to effectively reverse and inhibit pathophysiological changes associated with conditions like Charcot-Marie-Tooth (CMT), chemotherapy-induced peripheral neuropathies (CIPN), and neurodegenerative diseases including Amyotrophic Lateral Sclerosis (ALS).
Proceeds from this funding round will propel Augustine’s lead candidate, AGT100216, into a Phase 1/2 clinical trial in 2025. AGT100216, a peripherally restricted and selective small molecule HDAC6i, shows promise in treating CMT and CIPN. Additionally, the financing will support the development of Augustine’s pipeline, including next-generation drug candidates with enhanced properties for treating cardiometabolic and neurodegenerative diseases. It will also facilitate the expansion of Augustine’s executive and R&D teams.
Clara Campàs, Founding and Managing Partner at Asabys Partners, commented, “Augustine’s unique and potent molecules provide a significant advantage in modulating validated targets across a range of indications. We are excited to collaborate with Eli Lilly and Company, existing investors, and Augustine’s exceptional team to advance these molecules toward clinical proof of concept.”
In conjunction with the financing, Clara Campàs has joined Augustine Therapeutics’ Board of Directors. Isabel Jiménez from Asabys and a representative from Eli Lilly and Company will serve as Board Observers.
Augustine Therapeutics also announced the appointment of Gerhard Koenig as Executive Chairman of its Board of Directors. Gerhard Koenig, currently CEO and Founder of Arkuda Therapeutics, brings extensive experience in neurodegenerative disease therapeutics.
About Asabys Partners
Asabys Partners (www.asabys.com) is a specialized venture capital firm in the healthcare sector, founded in 2018. They invest in innovative companies addressing unmet medical needs in biopharma and healthtech, supported by Banc Sabadell as an anchor investor.
About Eli Lilly and Company
Lilly (Lilly.com) is a global healthcare company dedicated to making life better for people around the world through pioneering discoveries in biotechnology, chemistry, and genetic medicine.
