Augustine Therapeutics, a VIB spin-off company, raises EUR 17 million in a first closing of series A
Proceeds used to advance Augustine's lead candidate into Phase 1/2 clinical trial in neurological diseases
June 26, 2024
.png)
“This is a testimony to the enormous potential of Augustine’s best-in-class HDAC6 inhibitors, a new therapeutic class of brain-penetrant small molecules.” - Jérôme Van Biervliet, Managing Director at VIB
Ghent, 26 June 2024 – VIB, Flanders’ leading life sciences research institute announces today that one of its spin-off companies, Augustine Therapeutics, has raised EUR 17 million (USD 18.5 million) in a first closing of series A to advance its lead candidate into a Phase 1/2 first-in-human clinical trial in 2025. The financing was led by Asabys Partners, with participation from Eli Lilly and Company, and the US-based Charcot-Marie-Tooth Research Foundation. VIB also joined the round together with other existing investors AdBio partners, V-Bio Ventures, PMV and Gemma Frisius Fund.
“Our Histone DeACetylase 6 (HDAC6) inhibitors have unique properties designed to achieve meaningful benefits for patients with neurodegenerative and cardiometabolic diseases,” said Sylvain Celanire, CEO of Augustine Therapeutics. “Our first clinical candidate, AGT100216, has demonstrated impressive preclinical efficacy in Charcot-Marie-Tooth1 studies highlighting its ability to halt disease progression, significantly reverse the disease phenotype and rescue axonal integrity in a dose-dependent manner.”
In conjunction with the financing, Clara Campàs, Founding and Managing Partner at Asabys Partners, has joined Augustine Therapeutics’ Board of Directors.
“Augustine’s novel generation of chemically distinct HDAC6 inhibitors are unprecedented and have the potential to overcome some of the typical limitations of other HDAC6 inhibitors currently being tested in early clinical development”, added Clara Campàs.
In addition, Augustine Therapeutics announced today the appointment of Gerhard Koenig as Executive Chairman of its Board of Directors. Gerhard Koenig has been a Non-Executive Director on Augustine’s Board since May 2022, and currently serves as CEO and Founder of Arkuda Therapeutics, a Boston-based biotech company, focused on the development of lysosomal function enhancers in neurodegenerative diseases. Gerhard is also a Board Member of Vigil Therapeutics (NASDAQ: VIGL) focused on rectifying Microglial dysfunction in neurodegenerative diseases.
Full bios of the complete Board of Directors can be found on the website of Augustine Therapeutics.
About first closing of series A financing of Augustine Therapeutics
Augustine Therapeutics is a Belgian biotech company, founded in 2019 and a spin-off company of VIB-KU Leuven. Its scientific foundation originates from the ground-breaking research of Prof. Ludo Van Den Bosch from the VIB-KU Leuven Center for Brain and Disease Research. The company is developing best-in-class, novel, potent and subtype-selective small-molecule inhibitors of the cytosolic Histone DeACetylase 6 (HDAC6) enzyme, a class II histone deacetylase. HDAC6 is a well-known molecular target with strong biological rational for neurological disorders and high therapeutic potential in cardiometabolic disease. Inhibition of HDAC6 plays a leading role in axonal protection and regeneration by controlling the efficiency of internal axonal transport. Augustine’s novel generation of HDAC6 inhibitors (HDAC6i) are chemically distinct and superior to the first generation hydroxamate-based inhibitors developed so far, allowing them to safely and selectively reverse and inhibit the pathophysiological changes associated with neuromuscular diseases such as Charcot-Marie-Tooth (CMT), peripheral neuropathies induced by chemotherapies (CIPN), as well as neurodegenerative diseases such as Amyotrophic Lateral Sclerosis (ALS).
The proceeds from this first close will be used to advance Augustine’s lead candidate, AGT100216, into a Phase 1/2 first-in-human clinical trial in 2025. AGT100216 is a peripherally restricted and selective small molecule HDAC6i with a unique mechanism-of-action that has strong potential in CMT and CIPN. The financing will further support the development of the company’s pipeline, including the advancement of its next-generation drug candidates with additional peripheral-restricted and brain penetrant properties for cardiometabolic and neurodegenerative diseases, as well as fund the expansion of the Augustine executive and R&D team.
For more information visit www.augustinetx.com.
1. Charcot-Marie-Tooth disease is a group of inherited disorders that affect the peripheral nerves, leading to muscle weakness and sensory loss in the extremities.
Contacts:
About Asabys Partners
Asabys Partners ( is a venture capital firm specialized in the healthcare sector, founded in 2018 by Josep Ll. Sanfeliu and Clara Campàs, participated by Alantra and with the support of Banc Sabadell as anchor investor. Asabys invests in highly innovative and disruptive companies covering unmet medical needs in the biopharma and healthtech verticals. The firm’s investment in the company comes from its vehicles Sabadell Asabys Health Innovation Investments II, FCR and Sabadell Asabys Health Innovation Investments 2B, SCR SA.
About Eli Lilly and Company
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for nearly 150 years, and today, our medicines help more than 51 million people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable.
About the CMT Research Foundation
CMTRF ( is a patient-led, non-profit focused on delivering treatments and cures for CMT. The foundation identifies significant obstacles or deficiencies impeding progress towards a cure and seeks out collaborators to address these issues. It's their mission to raise funds to invest in promising science with high potential of leading to treatments and cures. Founded by two patients who are driven to expedite drug delivery to people who live with CMT, the 501(c)(3) federal tax-exempt organization is supported by personal and corporate financial gifts.