Axxam announces the launch of Libra Therapeutics to develop novel therapies targeting neurodegenerative diseases
Sept 24, 2020
Milan (Italy) – Axxam is proud to announce that Libra Therapeutics, a privately held US biotech company founded in mid-2019 by Axxam and focused to develop novel therapies for patients suffering from neurodegenerative diseases as amyotrophic lateral sclerosis (ALS) and frontotemporal dementia (FTD), raised $29 million in Series A financing round. The financing was co-led by Boehringer Ingelheim Venture Fund, Epidarex Capital, and Santé and the round was joined by Yonjin Venture, Dolby Family Ventures, and Sixty Degree Capital. Libra will use the proceeds of this Series A round to bring proprietary first small molecule products to the clinic and to further expand the pipeline of novel drug candidates targeting neurodegenerative diseases.
Axxam has the strategy of taking equity in promising drug discovery companies, by assigning valuable research assets either to already formed companies, such as Acousia Therapeutics GmbH, as well as to start-ups, such as Rewind Therapeutics NV or Libra Therapeutics, Inc. Since 2016, these three drug discovery companies have collected more than EUR 52 million to advance the drug discovery programs transferred from Axxam into later stage development products.
For more information please open the Press Release from Libra Therapeutics below or visit www.libratherapeutics.com