Axonis Therapeutics has secured $115 million in a Series A financing round led by Cormorant Asset Management and venBio Partners to develop innovative treatments for neurological disorders. The funds will advance a drug targeting KCC2, aimed at treating epilepsy and pain, into human trials this year, while also supporting next-generation compounds for various psychiatric and neurodevelopmental conditions. The investment reflects a growing interest in precise neurological therapies, as evidenced by recent acquisitions in the biotech sector.
Alto Neuroscience's experimental depression drug, ALTO-100, failed to show significant improvement over a placebo in a recent trial, leading to a two-thirds drop in the company's share price. Despite this setback, analysts maintain that the company's biomarker-driven approach to drug development still holds promise, with additional data expected from other studies by 2027. Alto has sufficient funds to continue operations and explore other therapeutic avenues.
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