Augustine Therapeutics, a biotechnology company, has successfully raised $85 million in an oversubscribed Series A financing round, co-led by Novo Holdings and Jeito Capital. The funding round also included contributions from Asabys Partners, Eli Lilly and Company, AdBio Partners, V-Bio Ventures, PMV, VIB, Gemma Frisius Fund, the Charcot-Marie-Tooth (CMT) Research Foundation, and Newton Biocapital. The company focuses on developing therapies for neuromuscular, neurodegenerative, and cardio-metabolic diseases through selective inhibition of the HDAC6 enzyme. The funds will support the clinical development of its lead candidate, AGT-100216, which aims to treat CMT, a hereditary neurological disorder. CEO Gerhard Koenig emphasized that Augustine’s novel approach overcomes previous challenges in HDAC6 inhibition, making it a promising therapeutic strategy for chronic diseases.
The company plans to use the investment to advance AGT-100216 through Phase I/II clinical trials and expand its research into additional neurodegenerative and cardio-metabolic conditions. Mehdi Ainouche, PharmD, Senior Principal, at Jeito Capital, said, “This investment illustrates the potential of Augustine to bring exciting innovation in therapeutic areas where patients have limited or no treatment options. We are delighted to co-lead this financing to realize Augustine’s potential, which stands out for both the quality of its research and the expertise of Gerhard and his team.” Board appointments from the lead investors further strengthen Augustine’s position as it works toward new treatment options for patients with limited alternatives.
