Aeonian Pharmaceuticals closes Seed Funding from Apollo Ventures to develop mTORC1 inhibitors
SAN FRANCISCO, Dec 11, 2017 /PRNewswire/ -- Aeonian Pharmaceuticals, Inc. ("Aeonian"), a San Francisco Bay Area-based biopharmaceutical company, announced today the closing of a seed financing round. The financing was led by Apollo Ventures, a Life Sciences Venture Capital firm and Life Sciences Company builder working across Europe and North America. In connection with the investment, James Peyer, Managing Partner of Apollo Ventures, has joined Aeonian's Board of Directors.
Aeonian is an early-stage company engaged in the discovery and development of compounds harnessing the latest scientific breakthroughs to treat multiple diseases by addressing the underlying causes of disease initiation and progression, such as oxidative, cellular, and environmental stress. The Company's lead compounds are novel and highly selective therapeutics modulating the mTORC1 pathway in order to treat rare diseases. Aeonian expects to use the proceeds from the transaction to advance its pipeline of innovative therapeutic candidate programs based on its discovery of the most highly selective inhibitors of the mTORC1 pathway ever discovered.
"The closing of this financing will allow us to accelerate clinical development of our lead programs," said Stelios Tzannis, Aeonian's President & Chief Executive Officer. "mTORC1 is at the core of many different diseases, and the new medicines we are developing have potential to change the lives of patients suffering from rare diseases."
"Aeonian has taken advantage of a new understanding of basic biology to find molecules that scientists all over the world have spent decades searching for," said James Peyer, Managing Partner of Apollo Ventures. "We are incredibly excited to join in as Aeonian works to bring these exceptionally promising medical advances to the people who need them most."
This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities law of any such state or jurisdiction.
About Aeonian Pharmaceuticals
Aeonian Pharmaceuticals, Inc. is an R&D-stage biopharmaceutical company aiming to discover, develop and commercialize innovative therapeutics for the treatment of rare and age-related diseases. Aeonian's proprietary platform is supported by an extensive intellectual property portfolio, part of which has been obtained by assignment from the Buck Institute of Novato, California, the nation's first independent research facility focused solely on understanding the connection between aging and chronic disease.
For more information, please visit http://www.aeonianpharma.com
About Apollo Ventures
Apollo Ventures is a life science Venture Capital firm and Life Science Company builder working across Europe and North America. Apollo is unique among investment firms due to its focus on a specific field of scientific research – the basic biology of aging.
For more information, please visit http://www.apollo.vc
Contact:
Stelios Tzannis
Aeonian Pharmaceuticals, Inc.
[email protected]
SOURCE Aeonian Pharmaceuticals, Inc.
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