Exciva, a biopharmaceutical company developing novel therapeutic compounds for the treatment of neuropsychiatric disorders, announces that it has closed a €51 million Series B financing round. Gimv and EQT Life Sciences co-led the round. Other participants include new investors Fountain Healthcare Partners, LifeArc Ventures, Carma Fund and Modi Ventures, as well as existing investors Andera Partners and LBBW.
The proceeds will primarily be used to fund a Phase 2 study to evaluate the therapeutic potential of Deraphan in treating agitation in patients with Alzheimer’s disease. Deraphan is a combination of two clinically validated products, including a new chemical entity, which have demonstrated activity in the central nervous system, with the potential to offer improved efficacy and a better risk/benefit ratio than existing therapies. The clinical trial will be conducted in Europe, the United Kingdom, the United States and Canada. A Phase 1 trial with Deraphan has been successfully completed and has demonstrated that the combination is safe and well tolerated.
Following the Series B round, the board of directors will consist of Raphaël Wisniewski (Andera Partners), Philip Scheltens (EQT Life Sciences), Andreas Jurgeit (Gimv), Aidan King (Fountain Healthcare), Vikram Sudarsan (independent board member) and François Conquet (CEO).
“We are delighted to have attracted funding from both existing and new investors. This confirms that our product is highly promising,” said François Conquet, CEO of Exciva, in a statement. “If the results of the Phase 2 trial are positive, this will be a significant step forward in symptomatic treatment options for patients with Alzheimer’s disease.”
“Exciva’s therapy for agitation in Alzheimer’s disease is highly differentiated and addresses significant gaps in the current standard of care and other products in development,” said Andreas Jurgeit, PhD, partner at Gimv. . “We are delighted to be partnering with the Exciva team, which has decades of experience in developing neuropsychiatric drugs, including approved therapies, to transform the treatment of this challenging aspect of dementia.”
“This investment demonstrates Exciva’s potential to bring exciting innovation to a therapeutic area where Alzheimer’s patients have limited or no treatment options,” adds Philip Scheltens, MD, PhD, partner at EQT Life Sciences. “We are delighted to co-lead this financing to realise the potential of Exciva, which stands out both for the quality of its science and the expertise of its team. We look forward to bringing this new therapy to patients.” (photo by Robina Weermeijer on Unsplash)
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