Autobahn Therapeutics announced the completion of a $76 million Series B fundraising co-led by ARCH Venture Partners and Cowen Healthcare Investments. Additional investors include BVF Partners L.P., Biogen, Bristol Myers Squibb, Pfizer Ventures, Invus, Section 32, Samsara BioCapital and Alexandria Venture Investments. Proceeds will be used to advance Autobahn’s lead program candidate ABX-002, as well as to develop other CNS therapeutics in the company’s portfolio.
Autobahn’s scientific approach is based on the role that thyroid hormone plays in the production of myelin, the protective sheath that forms around nerves. The degeneration of myelin is associated with many CNS disorders, including multiple sclerosis (MS). Autobahn is developing small molecule, thyroid hormone receptor beta agonists designed to stimulate remyelination and address the progressive nature of MS and other diseases that result from demyelination.
“Autobahn is harnessing the regenerative power of the human body to treat both rare and prevalent CNS disorders. We are coupling our deep knowledge of thyroid hormone biology and remyelination with our brain-targeting chemistry platform to restore the brain to a healthier state,” said Kevin Finney, chairman and chief executive officer of Autobahn. “We stand well-positioned to advance our pipeline with funding from the highest quality investors and pharmaceutical leaders who share our mission of improving life health for people affected by these conditions.”
Proceeds from the Series B funding round will be used to advance the company’s lead candidate, ABX-002, a thyroid hormone receptor beta agonist therapy for the treatment of multiple sclerosis (MS) and adrenomyeloneuropathy (AMN), a rare genetic disorder. Funds will also be used to develop a portfolio of transformational CNS programs leveraging the company’s brain-targeting chemistry platform.
“Autobahn is developing a differentiated portfolio of CNS therapies, backed by validated science and led by proven scientific and business leaders,” said Tim Anderson, managing director of Cowen Healthcare Investments. “Investing in innovative life sciences companies is at the heart of Cowen Healthcare Investments, and we are excited to join the Autobahn team to help develop products that can fundamentally change the way people with CNS disorders are treated.”