Leuven-based biotech startup Augustine Therapeutics has raised €78 million in a Series A funding round co-led by Novo Holdings and Jeito Capital, with support from existing investors.
- Augustine Therapeutics was founded in 2019 as a VIB and KU Leuven spin-off. The company develops selective HDAC6 inhibitors to treat neuromuscular, neurodegenerative, and cardio-metabolic diseases.
- Augustine’s approach uses a novel non-hydroxamate, non-hydrazide chemotype to selectively inhibit HDAC6, preserving its beneficial non-catalytic functions while avoiding the limitations of previous HDAC6 inhibitors.
- The company’s lead program, AGT-100216, is the first selective HDAC6 inhibitor designed to treat Charcot-Marie-Tooth (CMT) disease long-term. Augustine’s pipeline also includes other programs targeting peripheral and central nervous system indications, focusing on chronic diseases.
- In 2024, Augustine Therapeutics raised €17 million in a Series A first closing to advance its lead candidate into clinical development for neurological diseases. The round was led by Asabys Partners, with participation from Eli Lilly and Company and the Charcot-Marie-Tooth Research Foundation.
Details of the deal
- The Series A round was co-led by Novo Holdings, a holding and investment company managing the assets of the Novo Nordisk Foundation, which focused on life sciences investments and €149 billion in assets as of 2023, and Jeito Capital, a Paris-based global Private Equity fund.
“This investment illustrates the potential of Augustine to bring exciting innovation in therapeutic areas where patients have limited or no treatment options. We are delighted to co-lead this financing to realize Augustine’s potential, which stands out for both the quality of its research and the expertise of Gerhard and his team," claims Mehdi Ainouche, Senior Principal at Jeito Capital.
- The investment also saw participation from Asabys Partners and other existing investors, including AdBio Partners, V-Bio Ventures, CMT Research Foundation and Newton Biocapital.
- Augustine Therapeutics will use the funds from the Series A financing round to advance its lead candidate, AGT-100216, through Phase I/II proof-of-concept clinical trials for treating CMT disease.
- Additionally, the funds will support the development of its pipeline of next-generation HDAC6 inhibitors, which target neurodegenerative and cardiometabolic diseases.
"We now look forward to rapidly advancing our lead candidate into clinical trials for the treatment of CMT. I would like to thank our new and existing investors for their unwavering support as we continue to advance into clinical development," CEO of Augustine, Gerhard Koenig, commented.
