Eliem Therapeutics Launches with $80M in Financing

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Eliem Therapeutics, Inc., a Redmond, WA and Cambridge, England-based company delivering therapies that allow patients to live on their own terms, launched with $80m in financing since its inception in 2019.

Backers included RA Capital Management, Access Biotechnology, and Intermediate Capital Group (ICG).

Led by President and Chief Executive Officer Bob Azelby, Eliem aims to develop and commercialize therapies treating neuronal excitability disorders such as chronic pain, depression, epilepsy, and anxiety – conditions that cause deep suffering for tens of millions of people each day.

The company is progressing two clinical stage assets with clinically validated mechanisms of action for neurological diseases. They are:

  • ETX-810, an investigational new chemical entity (NCE) for chronic pain, which acts via the palmitoylethanolamide (PEA) pathway, is being evaluated in two Phase 2a trials in lumbosacral radicular pain (chronic sciatica) and diabetic peripheral neuropathic pain;
  • ETX-155, an investigational next generation neuroactive steroid NCE that acts as a GABAA positive allosteric modulator (PAM), is being evaluated in Phase 1 studies with plans for 2021 trial initiations in multiple indications, including major depressive disorder (MDD), hormone-related mood disorders, and focal onset seizures (FOS).

The company founders are:

  • Andrew Levin, M.D., Ph.D. – Managing Director, RA Capital Management, L.P.
  • Valerie Morisset, Ph.D. – Executive Vice President, R&D and Chief Scientific Officer

Company Leaders

  • Bob Azelby – President and Chief Executive Officer
  • Valerie Morisset, Ph.D. – Executive Vice President, R&D and Chief Scientific Officer
  • Erin Lavelle – Executive Vice President, Chief Operating Officer and Chief Financial Officer
  • James Bucher, J.D. – Executive Vice President and General Counsel
  • Amy Chappell, M.D. – Chief Medical Officer
  • Jo Palmer-Phillips, Ph.D. – Chief Development Officer

The Board of Directors includes:

  • Andrew Levin, M.D., Ph.D. (Chairman) – Managing Director, RA Capital Management, L.P.
  • Bob Azelby – President and Chief Executive Officer
  • Judith Dunn, Ph.D. – President of Research and Development, Fulcrum Therapeutics
  • Leone Patterson – President and Chief Financial Officer, Adverum Biotechnologies
  • Liam Ratcliffe, M.D., Ph.D. – Head of Access Biotechnology
  • Adam Rosenberg – Venture Partner, RA Capital Management, L.P.
  • Simon Tate – Managing Director, Intermediate Capital Group (ICG)

FinSMEs

02/04/2021