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Axial Therapeutics Raises $37.25 Million In Series C Financing To Advance Its Pipeline Of Gut-Targeted Small Molecule Drugs For Neurological Diseases And Disorders

Oct 13, 2021•almost 4 years ago

Amount Raised

$37.3 Million

Round Type

series c

Woburn

Description

Axial Therapeutics, a clinical-stage biopharmaceutical company dedicated to improving the lives of people with neurological diseases, today announced the completion of a $37.25 million Series C financing. OneVentures, a venture capital firm headquartered in Sydney, Australia, and the University of Tokyo Innovation Platform Company (UTokyo IPC) led the round as new investors, joined by Autism Impact Fund and Corundum Systems Biology (Tokyo, Japan). Existing investors, Longwood Fund, Seventure Partners, Taiho Ventures, and Domain Associates also participated in this round. The additional financing builds upon Axial’s earlier Series A and Series B financing rounds, bringing total investment in the company to $91.5 million to date.

Company Information

Company

Axial Therapeutics

Location

Woburn, Massachusetts, United States

About

Axial Therapeutics is a clinical-stage biopharmaceutical company dedicated to improving the lives of people with neurological diseases. The company is the scientific leader in the biological role of the microbiome gut-brain axis and its influence on the central nervous system. Harnessing its unique expertise in the microbiome, Axial is developing small molecule drugs with defined mechanisms of action that act on new targets to mitigate the impact of metabolites and bacteria in the gut linked to neurological disease pathology, progression, and symptoms. The company is advancing a pipeline of microbiome-inspired therapeutics for diseases with significant unmet patient need, including autism and Parkinson’s disease, and is also pursuing pre-clinical discovery of gut-targeted therapies in oncology. Axial’s lead product candidate is AB-2004, a molecular therapeutic in Phase 2 clinical trials for the treatment of irritability in children with autism. For more information, visit https://axialtx.com.

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