Date: 2015-02-24
Type of information: Series A financing round
Company: Prexton Therapeutics (Switzerland)
Investors: Sunstone Capital (Denmark) Ysios Capital (Spain) MS Ventures (Germany)
Amount: €8.7 million ($10 million)
Funding type: series A 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. This first funding will help Prexton Therapeutics to develop novel small molecules that target the metabotropic Glutamate Receptor 4 (mGluR4) up to completion of Phase 1. This has the potential to improve motor complications in Parkinson’s disease patients. The compounds were originally licensed from Domain Therapeutics, a French biopharmaceutical R&D company specializing in G protein-coupled receptors (GPCRs). Prexton Therapeutics now looks forward to advancing a first compound up to the clinical stage in the coming year.
Others: * On February 24, 2015, Prexton Therapeutics, a biopharmaceutical company developing novel therapeutic compounds for the treatment of CNS conditions including Parkinson’s disease, announced the closing of a Series A financing of €8.7 million ($10 million) co-led by Sunstone Capital and Ysios Capital. MS Ventures, the company\'s founding investor, will also participate. 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. In the course of this fundraising, Andreas Segerros of Sunstone and Raúl Martín-Ruiz of Ysios, will join the Board of Directors of Prexton. Jasper Bos will continue to represent MS Ventures.
Therapeutic area: CNS diseases - Neurodegenerative diseases
