Heritage Medical Systems has backed a $25m series B round for the Caltech spinout, which is developing therapies for Parkinson’s and Autism spectrum disorder.
US-based biopharmaceutical company Axial Biotherapeutics completed a $25m series B round yesterday that included a commitment from healthcare provider Heritage Medical Systems.
Health for Life Capital, a fund managed by Seventure Partners, led the round, investing alongside investment managers Longwood Fund and Domain Associates, as well a group of high-net-worth individuals based in Southern California.
Axial is developing treatments for central nervous system disorders by targeting the connections between the brain and the human gut microbiome. The company is focusing on neurological diseases, including Parkinson’s and Autism spectrum disorder (ASD).
The company’s lead drug candidate, AB-2004, is expected to enter a phase 1b/2a clinical trial in ASD adolescents in the first quarter of this year.
In 2016, Axial Biotherapeutics spun out of the Mazmanian Laboratory at California Institute of Technology with a $19.2m series A round co-led by Longwood Fund and Domain Associates, with participation…
