Silverback Therapeutics Raises $78.5 Million in Oversubscribed Series B Financing
03/11/20, 8:33 AM
Location
lausanneMoney raised
$78 million
Industry
therapeutics
biotechnology
health care
Round Type
series b
Silverback Therapeutics™ (“Silverback”) (“the Company”), a private biopharmaceutical company pioneering a new class of immune-modulating ImmunoTAC™ drug conjugates targeting previously inaccessible disease pathways, today announced the close of an oversubscribed $78.5 million Series B financing round. U.S. Venture Partners (“USVP”) led the round, with participation from new investors including Nextech Invest Ltd., Hunt Investment Group, Pontifax Venture Capital, Colt Ventures LP and NS Investment. Existing investors participating in the financing include OrbiMed Advisors LLC, Bristol-Meyers Squibb and Alexandria Venture Investments, LLC
Company Info
Location
lausanne, vaud, switzerland
Additional Info
Asceneuron is a clinical stage biotech company focused on the development of orally bioavailable therapeutics for debilitating neurodegenerative disorders with high unmet medical need. The company's pipeline reflects its ambition and commitment to developing treatments for a wide a range of neurodegenerative diseases including Alzheimer's and Parkinson's disease, as well as orphan tauopathies. Asceneuron has two clinical-stage small molecule O-GlcNAcase inhibitors in development for the treatment of proteinopathies: OGA inhibitor ASN90 (licenced to Ferrer Pharmaceuticals) for the treatment of progressive supranuclear palsy (PSP) and a potential best-in-class OGA inhibitor, ASN51 for Alzheimer's disease.
Details of the ongoing clinical trial in healthy volunteers can be found on clinicaltrials.gov under the identifiers NCT04759365 and NCT05725005.
Asceneuron is a privately held company financed by a renowned syndicate of investors consisting of Sofinnova Partners, M Ventures, SR One, Johnson & Johnson Innovation – JJDC, Inc. (JJDC) and Kurma Partners. For more information, please visit www.asceneuron.com.
SOURCE Asceneuron SA