Prexton Therapeutics, a Geneva, Switzerland-based biopharmaceutical company developing novel therapeutic compounds for the treatment of CNS conditions including Parkinson’s disease, closed a Series A financing of €8.7m ($10m).
The round was co-led by Sunstone Capital and Ysios Capital with participation from founding investor MS Ventures. In conjunction with the funding, Andreas Segerros of Sunstone and Raúl Martín-Ruiz of Ysios, will join the Board of Directors of Prexton.
This first funding will allow the company to develop novel small molecules that target the metabotropic Glutamate Receptor 4 (mGluR4) up to completion of Phase 1.
Led by Francois Conquet, CEO, Prexton Therapeutics applies a new scientific approach that integrates molecular, behavioral and chemistry technologies to address Parkinson’s disease and other brain disorders. This has the potential to improve motor complications in Parkinson’s disease patients. Its compounds were originally licensed from Domain Therapeutics, a French biopharmaceutical R&D company specializing in G protein-coupled receptors (GPCRs).
The company was founded in 2012 by Conquet and MS Ventures as part of the Merck Serono Entrepreneur Partnership Program, a facility set-up to support the creation of spin-offs from Merck Serono.