Swiss-based biopharmaceutical company Prexton Therapeutics has closed a Series B financing round of €29m to finance two Phase II studies of its lead product, Foliglurax, in Parkinson’s disease (PD).

PD is a devastating progressive neurological condition that affects around 6.3 million people globally.

The financing round is co-led by Forbion Capital Partners (NL) and Seroba Life Sciences (IE) and includes existing investors Merck Ventures (NL), Ysios Capital (ES) and Sunstone Capital (DK).

Prexton Therapeutics CEO Francois Conquet said: “It is a testament to the potential of Foliglurax that we have successfully completed such a significant funding round from high-quality investors.

“We are now keen to begin our Phase II efficacy trials and continue the development of Foliglurax as a potential new therapeutic for Parkinson’s disease.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Set to start this year, the trials will take place in specialist centres within Europe and the US.

PD is caused by the degeneration of dopaminergic brain cells and its main symptoms are resting tremour, muscle rigidity ('OFF-time') and uncontrolled movements ('Dyskinesia').

"We are now keen to begin our Phase II efficacy trials and continue the development of Foliglurax as a potential new therapeutic for Parkinson’s disease."

Prexton aims to stimulate a compensatory neuronal system that is unaffected by PD.

Foliglurax activates a specific target of the glutamatergic system (mGluR4) instead of targeting the dopaminergic system, to treat the motor symptoms of PD.

In September last year, Prexton completed a Phase I trial with Foliglurax and the results proved Foliglurax as safe and well-tolerated at doses well above those that produce robust effects in PD primate models.

PD is more prevalent in people above 60 and its incidence is expected to increase as the average age of the population increases.

Image: Immunohistochemistry for alpha-synuclein showing positive staining (brown) of an intraneural Lewy-body in the Substantia nigra in Parkinson's disease. Photo: courtesy of Marvin 101.