Autobahn Therapeutics Completes Oversubscribed $100 Million Series C Financing to Advance Pipeline of Novel Therapeutics for Depression and Other CNS Disorders
24 Julio 2024 - 6:00AM
Business Wire
Advancing ABX-002, a highly potent, selective
and centrally active thyromimetic, into Phase 2 clinical trials for
patients with major depressive disorder and bipolar disorder
depression
Advancing neuroimmunology candidate, ABX-101, a
first-in-class, centrally penetrant S1P modulator, into Phase 1
development
Financing led by Newpath Partners with
participation from new investors Canaan Partners, Monograph
Capital, Insight Partners, and existing investors
Autobahn Therapeutics, a biotechnology company developing
restorative treatments for people affected by neuropsychiatric and
neuroimmunologic disorders, today announced the closing of an
oversubscribed $100 million Series C financing led by Newpath
Partners, with participation from new investors Canaan Partners,
Monograph Capital, and Insight Partners. All of the company’s
existing investors participated in the round, including founding
investors ARCH Venture Partners and Blue Owl Healthcare
Opportunities, as well as BVF Partners, Invus, Samsara BioCapital,
Biogen, Bristol Myers Squibb, Pfizer Ventures, Section 32,
Alexandria Venture Investments and GT Healthcare Capital
Partners.
In conjunction with the financing, Thomas Cahill, M.D., Ph.D.,
Founder and Managing Partner, and Philip DeSouza, M.D., Venture
Partner, of Newpath Partners joined Autobahn’s Board of Directors,
alongside Uwe Schoenbeck, Ph.D., Venture Partner at Canaan
Partners, and Bonnie van Wilgenburg, Ph.D., Principal at Monograph
Capital.
Proceeds from the Series C will be used to commence two Phase 2
clinical trials for the company’s lead program, ABX-002, a potent
and selective thyroid hormone beta receptor (TRβ) agonist that was
well-tolerated and demonstrated CNS target engagement in a Phase 1
study. In the second half of 2024, Autobahn plans to initiate Phase
2 trials designed to provide biological and clinical
proof-of-concept of ABX-002 as an adjunctive treatment for patients
with major depressive disorder (MDD) and patients with bipolar
disorder depression. MDD and bipolar disorder are highly prevalent,
debilitating and life-threatening mental illnesses that affect more
than 20 million people and 7 million people in the U.S. alone,
respectively.
“With depression rates reaching historic highs in recent years,
there is an urgent need for new and better medicines that alleviate
suffering and address the global depression crisis. Autobahn’s CNS
pipeline, powered by its brain-targeting chemistry platform, has
the potential to meaningfully impact the ways in which these
debilitating disorders are treated,” stated Dr. Cahill. “The early
clinical data with ABX-002 are encouraging, and we are proud to
support the efforts to drive this and other therapeutic candidates
through clinical trials. We look forward to working alongside the
Autobahn team to help bring forward much-needed, effective
therapies for people living with depression and other CNS
disorders.”
With the proceeds from this raise, Autobahn will also advance
ABX-101, a next-generation, brain-penetrant, oral sphingosine
1-phosphate (S1P) receptor modulator for the treatment of
neuroimmunologic and neuroinflammatory disorders, into Phase 1
clinical testing. ABX-101 represents a differentiated, highly
CNS-penetrant dual S1P modulator that unlocks novel pharmacology in
multiple cell types in the brain that are associated with
inflammatory diseases. In preclinical studies, ABX-101 demonstrated
exceptional CNS exposure and robust centrally mediated treatment
effects in well-established animal models, as well as the ability
to optimize peripheral immunomodulatory benefits.
“We’ve developed a pipeline of novel programs that leverage
validated CNS pharmacology and the ability to enhance drug
concentrations directly in the brain, offering greater potency for
enhanced efficacy. We’re excited to see this approach play out with
ABX-002 – a first-in-class, brain-targeted thyromimetic that builds
on the clinical efficacy of T3 in augmenting depression treatments
– showing both improved efficacy and safety in early clinical
studies,” said Kevin Finney, Autobahn’s President and CEO. “We
believe ABX-002 has game-changing therapeutic potential for
multiple highly prevalent CNS disorders that are underserved by
current treatments, including MDD and bipolar depression. With the
support of a premier syndicate and the funds from this raise, we
plan to move swiftly into Phase 2. We are also greatly encouraged
by early data on ABX-101, which has disease-modifying potential in
neuroimmunology. Our vision is to restore brain health and
dramatically enhance the lives of patients affected by CNS
disorders, and we stand well-positioned with the resources,
programs, and technologies to achieve that vision.”
About Autobahn Therapeutics Autobahn Therapeutics is a
biotechnology company developing a portfolio of neuropsychiatric
and neuroimmunologic clinical candidates leveraging its
brain-targeting chemistry platform. Autobahn aims to unlock new
therapeutic opportunities through precision tuning of CNS exposure,
pursuing validated clinical and biologic targets, and guiding
development with biomarkers. The company’s pipeline is led by
ABX-002, a thyroid hormone receptor beta (TRβ) agonist being
developed as a potential adjunctive treatment for people with major
depressive disorder and bipolar disorder depression. Autobahn
Therapeutics is based in San Diego. For more information, visit
www.autobahntx.com.
About ABX-002 ABX-002 is an orally administered, potent
and selective thyroid hormone beta receptor (TRβ) agonist designed
to enhance the CNS benefits of thyroid hormone biology while also
reducing the peripheral liabilities of synthetic thyroid hormone
(e.g., triiodothyronine, T3), a treatment which has shown efficacy
in numerous placebo-controlled human studies across MDD and bipolar
disorder depression. Thyroid hormone agonism has demonstrated
activity on cellular energy metabolism pathways, which play an
important role on the regulation of brain bioenergetics and may be
uniquely suited to address symptoms of atypical depression, a
highly prevalent and underserved sub-population of MDD. In
nonclinical and clinical studies, ABX-002 has demonstrated
optimized PK properties, target engagement in brain regions
associated with depression, and an attractive safety and
tolerability profile.
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Investors: Monique Allaire THRUST Strategic
Communications monique@thrustsc.com
Media: Ryan Flinn In Like Flinn Communications
ryan@inlikeflinncommunications.com