Axial Biotherapeutics, a Waltham, MA-based biotechnology company dedicated to building gut-targeted therapeutics for neurodegenerative diseases and neurodevelopmental disorders, raised $10m in Series B extension funding.
Taiho Ventures made the investment, an extension of its previously closed Series B round in February 2019.
With this deal, Axial has raised a total of $35m in its Series B financing. Axial will maintain control of the new oncology programs and Taiho Ventures will have a first right to negotiate for an exclusive license related to the new programs. Axial retains all of its rights to its existing CNS programs.
As part of this deal, Sakae Asanuma, President, Taiho Ventures, LLC, will be joining the Axial Board.
Led by David H. Donabedian, Ph.D., co-founder and CEO, Axial Biotherapeutics is a clinical stage biopharmaceutical company advancing novel science focused on the interaction between the brain and the gut to mitigate the causes and symptoms of CNS and other gut-derived diseases.
The company has built a pipeline of novel small-molecules and live biotherapeutics with lead programs to address the significant unmet patient needs associated with Parkinson’s Disease and Autism Spectrum Disorder.