Date: 2017-02-07
Type of information: Series B financing round
Company: Prexton Therapeutics (Switzerland)
Investors: Forbion Capital Partners (The Netherlands) Seroba Life Sciences (Ireland) Merck Ventures (The Netherlands) Ysios Capital (Spain) Sunstone Capital (Denmark)
Amount: € 29 million
Funding type: series B financing round
Planned used: Prexton Therapeutics was founded in 2012 by Francois Conquet and MS Ventures as part of the Merck Serono Entrepreneur Partnership Program, a facility set-up to support the creation of spin-offs from Merck Serono. The company is developing novel therapeutic compounds for the treatment of CNS conditions including Parkinson’s disease. The series B financing round will be used to fund two phase 2 clinical trials of foliglurax (PXT002331) in patients with Parkinson's disease. These phase 2 trials will be initiated in 2017 in Europe and in the US. Foliglurax is a mGluR4 positive allosteric modulator (PAM) targeting Parkinson’s disease. The compound was developed through a licensing and collaboration agreement signed between Domain and Merck Serono. Last September, Prexton Therapeutics announced the successful completion of the phase I clinical trial of PXT002331. A total of 64 healthy volunteers were enrolled to evaluate several doses of PXT002331, which has proved safe and well tolerated.
Others: * On February 7, 2017, Prexton Therapeutics announced it has raised € 29 million in a Series B financing round. This round as co-led by Forbion Capital Partners and Seroba Life Sciences and current investors, Merck Ventures, Ysios Capital and Sunstone Capital also participated. Marco Boorsma (Forbion) and Alan O’Connell (Seroba) have also been appointed to the Prexton board of directors.
Therapeutic area: Neurodegenerative diseases - CNS diseases
