Augustine Therapeutics Secures $85M Series A Financing to Advance HDAC6 Inhibitor Pipeline for Neuromuscular and Metabolic Diseases

On March 24, in Leuven, Belgium, Augustine Therapeutics NV, a biotechnology company focused on developing new therapies for neuromuscular, neurodegenerative, and cardiometabolic diseases by inhibiting the cytoplasmic enzyme histone deacetylase 6 (HDAC6), announced the successful completion€77.7 million ($84.8 million) Series A financing. The oversubscribed round was co-led by Novo Holdings and Jeito Capital, with support from existing investors Asabys Partners, Eli Lilly and Company, AdBio Partners, V-Bio Ventures, PMV, VIB, Gemma Frisius Fund, U.S.-based Charcot Marie Tooth (CMT) Research Foundation, and Newton Biocapital.。（New Frontier! Nearly $20 Million in Financing to Develop HDAC6 Inhibitors）

HDAC6 is involved in cellular processes associated with neurodegeneration and tissue aging. Pharmacological inhibition of HDAC6 represents a promising approach for treating numerous diseases. Augustine Therapeutics has designed a unique next-generation method to selectively inhibit HDAC6 while preserving its beneficial non-catalytic functions. This novel non-hydroxamate, non-hydrazine-based approach aims to avoid the limitations of previous HDAC6 inhibitors and shows great potential in CMT, the most common hereditary peripheral neuropathy, affecting approximately 3 million people worldwide. With additional independent and differentiated programs focused on brain-penetrant and peripherally-restricted molecules, Augustine's HDAC6 inhibitors hold further potential across multiple diseases, including neurodegenerative and cardiometabolic disorders.

The scientific foundation of Augustine Therapeutics stems from groundbreaking research by Professor Ludo Van Den Bosch at the VIB-KU Leuven Center for Brain & Disease Research, who identified HDAC6 inhibition as a promising approach for treating CMT and other neurological disorders. Augustine Therapeutics was initially formed and seed-funded by V-Bio Ventures, AdBio Partners, VIB, PMV, and the Gemma Frisius Fund. The company recently appointed seasoned biopharmaceutical leader Dr. Gerhard Koenig, who has served as Executive Chairman since June 2024 and will assume the role of Chief Executive Officer in January 2025.

The proceeds will be used to advance Augustine's lead candidate pipeline, AGT-100216, in a Phase I/II proof-of-concept clinical trial for CMT. In addition to AGT-100216, Augustine has two other programs in exploration: peripherally restricted and blood-brain barrier penetrant HDAC6 inhibitors for undisclosed neurodegenerative and cardiometabolic indications.

Dr. Gerhard Koenig, CEO of Augustine Therapeutics, said:"This substantial financing round validates the innovative drug chemistry developed by Augustine, which operates through a unique mechanism of action. The therapeutic potential of HDAC6 is widely acknowledged within our industry, but previous drug approaches have not been optimal, particularly for chronic conditions. At Augustine, we believe we have addressed these challenges with a novel non-hydroxamate, non-hydrazide chemotype that is highly selective and avoids the typical limitations of earlier chemotypes, positioning HDAC6 inhibition as a viable treatment approach. We now look forward to rapidly advancing our lead candidate into clinical trials for the treatment of CMT, while expanding the potential of our pipeline to transform the treatment paradigm in neurology and cardio-metabolic diseases. I want to thank both our new and existing investors for their unwavering support as we continue to progress our clinical development programs."