Exciva raises €51 million in Series B
“If the results of the phase 2 trial are positive, it will be a significant step forward in symptomatic treatment options for patients with Alzheimer’s disease”
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Exciva GmbH, a biopharmaceutical company developing novel therapeutic compounds for the treatment of neuropsychiatric conditions, announces the closing of a €51 million ($59m) Series B financing round. Gimv and EQT Life Sciences co-led the round. Additional participants included 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 fund a phase 2 study evaluating Deraphan’s therapeutic potential for treating agitation in patients with Alzheimer’s disease (AD). Deraphan is the combination of two clinically validated products, including one novel chemical entity (NCE), which have demonstrated activity in the CNS field, with the potential to offer better efficacy and risk/benefit ratio than existing therapies. The clinical trial will be conducted in Europe, the UK, the US and Canada. A phase 1 trial with Deraphan has been successfully completed and showed that the combination is safe and well-tolerated.
Following the Series B, the board of directors will be composed 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 that we could attract funding from both existing and new investors. This confirms that our product is highly promising,” said François Conquet, CEO of Exciva. “If the results of the phase 2 trial are positive, it 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, addressing significant shortcomings in the current standard of care and other products under development,” said Andreas Jurgeit, PhD, partner at Gimv. “We are pleased to collaborate with the Exciva team - backed by decades of expertise in neuropsychiatry drug development, including approved therapies - to transform care for this challenging aspect of dementia.”
“This investment illustrates the potential of Exciva to bring an exciting innovation into a therapeutic area where Alzheimer’s patients have limited or no treatment options,” added Philip Scheltens, MD, PhD, partner at EQT Life Sciences. “We are delighted to co-lead this financing to realize Exciva’s potential, which stands out for both the quality of its science and the expertise of the team. We look forward to bringing this new therapy to patients.”
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