Novo Nordisk’s owner led a $100 million Series C fundraising in Asceneuron, a biotech company developing therapeutics for neurodegenerative diseases. Novo Asceneuron investment is poised to make substantial strides in clinical development. #NovoAsceneuronInvestment
Novo Holdings, the majority owner of Wegovy maker Novo Nordisk, announced the funding will advance Asceneuron’s lead asset, ASN51, into phase 2 clinical development for Alzheimer’s disease treatment.
Swedish private-equity firm EQT also invested in the oversubscribed Series C that saw OrbiMed and SR One become new investors.
Existing investors M Ventures, Sofinnova Partners, GSK Equities Investments and Johnson & Johnson Innovation also participated.
In connection with the financing, Naveed Siddiqi, a senior partner at Novo Holdings’ venture investments, will join the Asceneuron board.
Philip Scheltens, head of EQT’s LSP Dementia Fund will also join the Asceneuron board and Arno de Wilde, director at the fund, will join as board observer.
Asceneuron plans to initiate its first Phase 2 clinical study later this year. #NovoAsceneuronInvestment
Novo’s investment shows its commitment to advancing neurodegenerative disease therapies, particularly in Asceneuron’s promising developments.
Novo Asceneuron investment highlights its confidence in the biotech’s leadership and the potential of its therapeutic platform. This partnership provides financial support but also signifies a strategic alignment aimed at driving forward innovative solutions in neurology.
