Asceneuron Raises $100M in Series C for Alzheimer's Drug Development

Jul 16, 2024, 08:01 AM

Swiss biotech company Asceneuron announced it has raised $100 million in an oversubscribed Series C financing round. The funding, led by Novo Holdings, will be used to advance the clinical development of its Alzheimer's disease drug, targeting Tau protein aggregation. Investors include EQT Life Sciences, SofinnovaVC, and other notable backers. The raised capital will support the progression of Asceneuron's lead asset, ASN51, into Phase 2 clinical trials. The drug is being developed as an oral therapy. Professor Scheltens has joined the board to further bolster the company's expertise.