Exciva has raised US$59.4m in series B funding to support a phase 2 trial of its Alzheimer’s therapy.
The clinical-stage biopharmaceutical company is developing treatments for behavioural symptoms associated with the condition.
Neuropsychiatric symptoms such as agitation and other behavioural symptoms affect up to 90 per cent of patients with severe Alzheimer’s disease, driving caregiver burden, healthcare utilisation and reduced quality of life.
The funding will support Exciva’s phase 2 clinical trial evaluating Deraphan, the company’s lead candidate for agitation in Alzheimer’s disease.
Agitation can include restlessness, pacing, aggression and emotional distress.
The trial will be conducted across the European Union, US and Canada.
François Conquet, CEO of Exciva, said: “We are very pleased that we were able to secure funding from both existing and new investors.
“This confirms that our product is very promising.
“The new proceeds will primarily be used to finance a Phase 2 study.
“This study will investigate the therapeutic potential of Deraphan for treating agitation in patients with Alzheimer’s.
“The clinical trial will take place in Europe, the United States, and Canada.
“If the Phase 2 study results are positive, this would be a significant advance for symptomatic treatment of patients with Alzheimer’s disease.”
The financing was co-led by EQT and Gimv, with participation from Fountain Healthcare Partners, LifeArc, Carma Fund and Modi Ventures, as well as returning investors Andera Partners and LBBW.
Following the investment, EQT will be represented by Philip Scheltens as a director and Juliette Lee as an observer to the board of the company.
