Biotech company Augustine Therapeutics has raised an oversubscribed 78 million euros Series A funding round to advance its groundbreaking treatment for Charcot-Marie-Tooth (CMT) disease.
The round was co-led by Novo Holdings and Jeito Capital, with support from Asabys Partners and other investors.
The funding will support Phase I clinical trials for Augustine’s lead candidate, AGT-100216, which targets CMT, a hereditary nerve disorder affecting three million people worldwide. The company is also developing next-generation HDAC6 inhibitors for neurodegenerative and cardio-metabolic diseases.
CEO Gerhard Koenig emphasizes the potential of Augustine’s unique approach: “We have developed a novel, highly selective HDAC6 inhibitor designed for chronic diseases, avoiding the limitations of previous drug candidates. This funding allows us to bring much-needed treatments to patients.”
With this financial boost, Augustine Therapeutics aims to expand its research activities in Denmark while accelerating its clinical programs.
