The Charcot-Marie-Tooth Research Foundation participated in the $18.5 million Series A funding round recently announced by Augustine Therapeutics. The financing was led by Asabys Partners, with the participation of Eli Lilly & Company, CMTRF, and current investors AdBio partners, V-Bio Ventures, PMV, VIB New Ventures and KU Leuven’s venture arm Gemma Frisius Fund.
The proceeds from the Series A will be used to advance Augustine’s first clinical candidate AGT100216 into a Phase 1/2 clinical trial in 2025. Next-generation drug candidates with additional peripheral-restricted and brain penetrant properties will follow thereafter, moving towards non-clinical regulatory development stage.
A year ago CMTRF also helped Augustine Therapeutics underwrite the development of novel potent and subtype-selective small-molecule inhibitors of the cytosolic histone deacetylase 6 (HDAC6) enzyme to reverse and inhibit the pathophysiological changes associated with neuromuscular diseases such as CMT, Duchenne Muscular Dystrophy, peripheral neuropathies, cardiometabolic syndrome as well as neurodegenerative diseases such as Amyotrophic Lateral Sclerosis.
Augustine’s molecules are unique, selective, and potent, providing a competitive advantage in modulating a validated target with potential impact in a large variety of indications. Augustine’s chemical scaffolds are unprecedented and have the potential to overcome some of the typical limitations of other HDAC6 inhibitors currently being tested in early clinical development. HDAC6 inhibitors are promising as potential therapeutics for several forms of CMT. We are hopeful that this collaboration will accelerate the progress of finding a cure for CMT patients who currently have no available treatment options.
“We are excited to welcome our new investors Asabys Partners, Eli Lilly & Company and the CMT Research Foundation, and we appreciate the continued support from our existing investors,” said Sylvain Celanire, CEO of Augustine Therapeutics in a press release. “This first close is an important milestone for Augustine, enabling us to advance our unique portfolio of best-in-class HDAC6 inhibitors towards key milestones.”
