Axonis Therapeutics raises $115 million in Series A financing

Boston, USA-based biotech Axonis Therapeutics, which is focused on the development of novel neuromedicines, has announced the successful completion of an oversubscribed $115 million Series A financing.

Proceeds from the financing will be used to advance Axonis' lead development candidate, AXN-027, through clinical proof-of-concept in patients. AXN-027 is a first-in-class oral small molecule designed to potentiate the function of KCC2, a major CNS chloride transporter essential for inhibitory neurotransmission, for the treatment of epilepsy and pain. Proceeds will also enable the development of next generation compounds targeting KCC2 in these and other indications, including psychiatric and neurodevelopmental disorders.

Cormorant Asset Management and venBio Partners co-led the financing with significant investments from Sofinnova Investments, MRL Ventures Fund, Perceptive Advisors, Lumira Ventures and Solasta Ventures.