Axonis Therapeutics Raises $115M in Series A Financing to Advance Novel Neuromedicines

Axonis Therapeutics, a biotechnology company focused on developing novel neuromedicines, has successfully completed an oversubscribed $115 million Series A financing. The funding will be used to advance the company's lead development candidate, AXN-027, through clinical proof-of-concept in patients. AXN-027 is an oral small molecule designed to enhance the function of KCC2 for the treatment of epilepsy and pain.

The financing was co-led by Cormorant Asset Management and venBio Partners, with significant investments from Sofinnova Investments, MRL Ventures Fund, Perceptive Advisors, Lumira Ventures, and Solasta Ventures. The proceeds will facilitate the development of next-generation compounds targeting KCC2 in various indications. In conjunction with the financing, Axonis has appointed Raymond J. Kelleher, M.D., Ph.D., and Jonathan Leff, M.D., to its Board of Directors. 

The company's vision is to advance a pipeline of oral KCC2 therapeutics to treat neurological disorders without disabling side effects.  Axonis is focused on translating breakthrough discoveries into impactful medicines targeting KCC2.