Asabys Partners, a member of CATALONIA.HEALTH, has announced that its investee Augustine Therapeutics, has closed a Series A financing round, raising a total of 85 million dollars. The financing round has been jointly led by Novo Holdings and Jeito Capital, new investors of the company, and with the support of current investors Asabys Partners (Sabadell Asabys II), Eli Lilly and Company, AdBio partners, also a member of CATALONIA.HEALTH, V-Bio Ventures, PMV, VIB and Gemma Frisius Fund, and the US-based Charcot-Marie-Tooth (CMT) Research Foundation.
The funds raised will be used to advance the development of Augustine's main candidate, AGT-216, through a phase I/II proof-of-concept clinical trial in CMT, which is expected to begin in 2025. Beyond AGT-100216, Augustine has two other pre-clinical-phase programs, aimed at restricted peripheral action HDAC6 inhibitors capable of crossing the blood-brain barrier and oriented to neurodegenerative and cardiometabolic indications.
Clara Campàs, managing partner and co-founder of Asabys Partners, and Isabel Jiménez, senior associate of Asabys, consider: “For Asabys, having led the first closure of Series A and now counting on this final closure with investors of the calibre of Novo Holders and Jeito Capital is a validation of the transformative and unique potential of Augustine Therapeutics. In addition, the continued presence of Eli Lilly as an investor of the company reinforces the solidity of the project and its relevance in the development of new therapies for diseases with a high medical need”.
Comments