Asceneuron to pump newly-raised $100 million into Alzheimer’s asset
Switzerland-based Asceneuron, a biotech developing small molecules targeting tau protein aggregation, a root cause of neurodegenerative disease, has announced a $100 million oversubscribed Series C financing.
The financing was led by Novo Holdings with new investment from EQT Life Sciences - LSP Dementia Fund, OrbiMed and SR One, alongside participation from existing investors M Ventures, Sofinnova Partners, GSK Equities Investments Limited and Johnson & Johnson Innovation – JJDC, Inc.
Funds will be used to advance Asceneuron’s lead asset, ASN51, into Phase II development for the treatment of Alzheimer’s disease.
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