CMT Research Foundation funded partner Augustine Therapeutics recently announced that they completed their Series A financing round and raised $85 million, which will be used to advance their Charcot-Marie-Tooth disease drug candidate, AGT-100216, through a Phase I/II clinical trial.
In 2023, CMTRF invested $683,000 to Augustine Therapeutics to support their groundbreaking work on a small-molecule HDAC6 inhibitor for CMT. The findings of the work allowed Augustine to further advance and optimize their drug candidate which attracted additional funding of $85 million.
The Series A financing round was co-led by Novo Holdings and Jeito Capital and supported by existing investors Asabys Partners, who led an initial EUR 17.5 million closing in 2024, Eli Lilly and Company, AdBio partners, V-Bio Ventures, PMV, VIB, Gemma Frisius Fund, CMTRF and Newton Biocapital.
Funding from the Series A closing will support their drug candidate as it enters a Phase I/II clinical trial imminently for the treatment of CMT.
“The support of CMTRF has been instrumental in our continuing mission to help make a difference in the lives of patients with CMT, and we are thrilled that the promising work we are doing at Augustine now has further support from a fantastic group of investors who share our commitment to developing novel treatments for CMT,” said Gerhard Koenig, Augustine Therapeutics’ CEO.
Phase I/II clinical trials test for both safety and activity of a drug candidate in a single trial, which provides opportunities to obtain key data more quickly or with fewer patients.
“As a patient-led nonprofit, CMTRF is laser-focused on accelerating drug development for all types of CMT,” said Laura M. MacNeill, CMTRF CEO. “With the support of our generous donors, our scientific advisors were able to recognize the potential of this research early and help fast-track it toward clinical trials — and ultimately, to the patients who need it most.”
To learn more about Augustine’s Series A financing, visit: www.globenewswire.com/news-release/2025/03/24/3047524/0/en/Augustine-Therapeutics-raises-oversubscribed-EUR-78-million-USD-85-million-Series-A-financing-round.html