3 November | 2021
Prilenia Closes Oversubscribed $43 Million in Series B Financing Round
Financing led by Sands Capital alongside Forbion and Morningside, with participation from additional new and all existing investors.
Proceeds to support advancing the Company’s Huntington’s Disease (HD) and Amyotrophic Lateral Sclerosis (ALS) programs to regulatory submissions and preparing for commercialization, as well as planning for additional indications.
Naarden, NL, 3 November 2021 – Prilenia Therapeutics B.V., a clinical stage biotech company focused on developing novel treatments for neurodegenerative and neurodevelopmental disorders, today announced that it has raised $43M in an oversubscribed Series B financing round. The proceeds will be used to prepare for potential registration and commercialization of its lead drug candidate, pridopidine, for patients with Huntington’s Disease (HD) and Amyotrophic Lateral Sclerosis (ALS), as well as to accelerate timelines and expand the Company’s executive team and operations.
The funding round was upsized and was led by new investor Sands Capital, alongside Forbion and Morningside. Amplitude Ventures also joined the round as a new investor, in addition to existing investors Sectoral Asset Management, Talisman and the ALS Investment Fund. The Series B financing brings the total capital invested in Prilenia Therapeutics since its founding in September 2018 to $133.5M.
“With the support of this group of leading investors, we are well-capitalized and resourced to continue advancing our programs towards potential registration and commercialization,” said Dr. Michael R. Hayden, CEO and Founder of Prilenia. “The recent completion of patient enrollment in our PROOF-HD phase 3 clinical trial ahead of schedule and above target enrollment numbers is a significant milestone. We look forward to advancing our programs in both HD and ALS.”
"Prilenia has made tremendous progress since its founding through outstanding execution on all fronts,” said Geert-Jan Mulder, MD, Prilenia Chairman and Managing Partner at Forbion. “We are excited to continue to support the Company on its journey to develop pridopidine as a potential treatment for HD and ALS patients.”
“We are honored and pleased to join this group of outstanding investors in supporting Prilenia on its next stage of progress and growth,” said Michael Ginder, Research Analyst at Sands Capital, who will be joining Prilenia’s Board of Directors.
Pridopidine acts as a highly selective and potent Sigma-1 Receptor (S1R) agonist. Extensive safety data demonstrate pridopidine has a favorable safety and tolerability profile. Currently, pridopidine is the only Phase 3 clinical stage drug candidate assessing HD disease progression as measured by TFC and is also being assessed for treatment of ALS in the HEALEY ALS Phase 2/3 platform trial.
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