Silverback Therapeutics Raises $85 Million in Series C Financing; Company Announces Executive Promotions
Silverback Therapeutics Raises $85 Million in Series C Financing; Company Announces Executive Promotions
09/23/20, 12:02 PM
Location
lausanneMoney raised
$85 million
Industry
therapeutics
biotechnology
health care
Round Type
series c
Silverback Therapeutics, Inc. (“Silverback”) (“the Company”), a clinical-stage biopharmaceutical company leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered and tissue-targeted therapeutics for the treatment of cancer and other serious diseases, today announced the close of an $85 million Series C financing round. EcoR1 Capital led the round, with participation from new investors including Boxer Capital of Tavistock Group, Fidelity Management & Research Company LLC, Nantahala Capital Management, and RA Capital. Existing investors also participating in the financing included OrbiMed Advisors, U.S
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