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Saniona’s partner AstronauTx raises 61 MUSD

Saniona (OMX: SANION), a clinical-stage biopharmaceutical company focused on the discovery and development of medicines modulating ion channels, today announced that its partner, AstronauTx, has closed a $ 61 million Series A financing to create new treatments for Alzheimer's disease.

In July 2023, Saniona announced a new research collaboration with AstronauTx in Alzheimer’s disease. Saniona may receive up to SEK 1.9 billion ($177 million) in milestone payments as well as royalties on worldwide net sales of resulting products under the collaboration. Following this collaboration, AstronauTx has now closed a $61 million Series A financing led by the Novartis Venture Fund. For more information, please go to www.AstronauTx.Bio.

“Alzheimer’s disease and other neurodegenerative conditions represent some of the most devastating challenges for individuals, families, and society. We are excited by the opportunity to develop a new potential treatment concept for Alzheimer’s in collaboration with AstronauTx, which is led by world experts in neuroscience and now backed my several leading global venture investors, including Novartis Venture Fund, Brandon Capital, Bristol Myers Squibb, EQT Life Sciences investing from the LSP Dementia Fund, MPM Capital and the Dementia Discovery Fund” says Thomas Feldthus, CEO of Saniona.

For more information, please contact
Thomas Feldthus, CEO, +45 22109957; thomas.feldthus@saniona.com

About Saniona
Saniona is a clinical-stage biopharmaceutical company focused on the discovery and development of medicines modulating ion channels. Saniona’s most advanced candidate, tesofensine, has progressed towards regulatory approval for obesity by Saniona’s partner Medix. Saniona is advancing four product candidates including Tesomet™ and three ion channel modulators SAN711, SAN903 and SAN2219. Tesomet™ has progressed to mid-stage clinical trials for rare eating disorders. SAN711 has completed Phase 1 for neuropathic pain conditions. SAN903 is ready for Phase 1 for inflammatory and fibrotic disorders. SAN2219 is in preclinical development for epilepsy. Saniona has research and development partnerships with Boehringer Ingelheim GmbH, Productos Medix, S.A de S.V, AstronauTx Limited and Cephagenix ApS. Saniona is based in Copenhagen, and listed on Nasdaq Stockholm Small Cap (OMX: SANION). Read more at www.saniona.com.

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Saniona’s partner AstronauTx raises 61 MUSD

Datum 2023-10-09, kl 12:50
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Saniona’s partner AstronauTx raises 61 MUSD
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