Axonis Therapeutics has successfully raised $115 million in a Series A financing round to develop innovative treatments for neurological disorders.
The funding round was co-led by Cormorant Asset Management and venBio Partners, with contributions from other investors including Sofinnova Investments and Perceptive Advisors. The funding round exceeded expectations, indicating renewed investor confidence in brain-targeted therapies.
The capital will primarily be used to advance Axonis' lead drug candidate, which aims to treat epilepsy and pain by enhancing the function of the KCC2 protein. Axonis also plans to invest in the development of next-generation compounds targeting KCC2 for other conditions.
The nervous system relies on the precise communication between cells, and disruptions in this communication can lead to neurological diseases. Axonis believes that KCC2 is a promising therapeutic target as it plays a critical role in regulating signaling pathways that calm nerve cells.
The recent funding surge for Axonis is part of a broader trend in the biotechnology sector, where investors are recognizing advancements in developing precise treatments for central nervous system disorders. Axonis, founded in 2019, has already raised over $34 million in seed funding and has expanded its board of directors with experienced investors to guide its growth.
With its focus on KCC2 as a therapeutic target, Axonis aims to make significant contributions to the field of neurology.