US-based Aspen Neuroscience has closed a Series C funding round, raising $115m to further the clinical development of its lead autologous cell therapy candidate, ANPD001, for moderate-to-advanced Parkinson’s disease.
This round will also bolster the company’s manufacturing offerings and support additional pipeline therapies.
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It was jointly led by OrbiMed, Frazier Life Sciences, ARCH Venture Partners and Revelation Partners.
Current investors Medical Excellence Capital, Axon Ventures, S32, LifeForce Capital and LYFE Capital also participated.
New investors joining the round include Gilead’s Kite, Balyasny Asset Management, Cormorant Asset Management and Prebys Ventures.
Aspen has now raised more than $340m to date, which includes an $8m grant from the California Institute for Regenerative Medicine (CIRM).
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By GlobalDataThe funds from the round will be allocated to progressing the company’s pipeline of autologous induced pluripotent stem cell (iPSC)-derived therapies, targeting additional neurological conditions.
Aspen’s manufacturing platform incorporates machine learning and genomics to create personalised cells for each individual.
In connection with the latest funding, Kite global head and executive vice-president Cindy Perettie is set to join the board of directors of Aspen.
The financing follows the start of dosing for the Phase I/IIa Cohort three commercial formulation and the presentation of six-month efficacy and safety data for Cohort one. ANPD001 has received fast-track designation from the US Food and Drug Administration.
Aspen Neuroscience CEO and president Damien McDevitt stated: “We are grateful for the confidence our investors have shown in our science, team, vision and market opportunity.
“The significant experience and deep capital resources our investor syndicate brings will be instrumental in advancing Aspen’s next phases of clinical development and commercial readiness. Their strategic guidance and financial support empower us to scale our operations, expand our pipeline, and bring transformative therapies closer to those in need.”
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