Prexton Therapeutics, a Geneva, Switzerland and Amsterdam, The Netherlands-based biopharmaceutical company developing novel therapeutic compounds for the treatment of Central Nervous System (CNS) conditions, closed a €29 million ($31M) Series B financing round.
The round was co-led by Forbion Capital Partners and Seroba Life Sciences with participation from current investors Merck Ventures, Ysios Capital and Sunstone Capital. In conjunction with the funding, Marco Boorsma (Forbion) and Alan O’Connell (Seroba) will join the board of directors at Prexton.
The company intends to use the funds to finance two phase II studies of its lead product, Foliglurax (formerly known as PXT002331) in Parkinson’s disease (PD). The phase II trials will start in 2017 and will take place in specialist centers in Europe and the US.
Founded in 2012 by Francois Conquet and Merck Ventures, Prexton Therapeutics is a biopharmaceutical company which applies a new scientific approach that fully integrates molecular, behavioral and chemistry technologies to address Parkinson’s disease and other brain disorders. The company uses its discovery platform to target specific novel compounds focused on the treatment of Parkinson’s disease.
It is part of a Merck Ventures entrepreneurial partnership program, which supports the creation of spin-offs from Merck.