Azafaros, a clinical-stage biopharmaceutical company focused on developing treatments for rare lysosomal storage disorders, has completed an oversubscribed $149.6 million Series B financing round. The funding was led by Jeito Capital and co-led by Forbion Growth, with additional participation from Seroba, Pictet Group, and existing investors. Stefano Portolano, Chief Executive Officer at Azafaros, said, “This successful Series B round marks a significant milestone for Azafaros, allowing us to accelerate the development of nizubaglustat and leverage our scientific understanding and competencies to bring additional candidates into development.” The financing will also enable the company to expand its pipeline to address other rare indications.
Founded in 2018 from research at Leiden University and Amsterdam UMC, Azafaros is developing a first-in-class oral drug for severe neurological diseases. The funding will support late-stage trials and pipeline expansion. These diseases often affect infants and children, causing progressive neurodegeneration and early death, with no current therapies to alter their course. The company’s leadership team includes experienced professionals in rare disease drug development. New Board Members from Jeito Capital and Forbion Growth will join Azafaros to help guide its continued growth and clinical progress. Rachel Mears, Partner at Jeito Capital, commented, “We are excited to support and accelerate the Azafaros team in this important next step in the Company’s clinical development journey. Leading this round further demonstrates Jeito’s commitment to making a meaningful difference in patients’ lives by pursuing much needed benefits for those suffering from rare diseases.”
