Athira Pharma Closes $85 Million Series B Financing
- Premier syndicate comes together to fund Phase 2/3 development of NDX-1017 for treatment of Alzheimer's disease
Jun 04, 2020, 07:30 ET
SEATTLE, June 4, 2020 /PRNewswire/ -- Athira Pharma, Inc., a clinical-stage company developing innovative first-in-class regenerative therapies with the potential to restore brain function, today announced the closing of an $85 million Series B financing. The financing round was led by Perceptive Advisors and included participation from new investors RTW Investments, Viking Global Investors, Venrock Healthcare Capital Partners, Franklin Templeton, Rock Springs Capital, LifeSci Venture Partners, Surveyor Capital (a Citadel company), Highside Capital Management, Logos Capital, funds managed by Janus Henderson Investors, Sofinnova Investments, Avidity Partners, and existing investors including Rick and Suzanne Kayne and Sahsen Ventures.
In connection with the financing, Joseph Edelman, Chief Executive Officer and Portfolio Manager of Perceptive Advisors, will join the Company's Board of Directors.
"We are dedicated to impacting the course of neurodegenerative diseases and are eager to advance our lead therapeutic candidate, NDX-1017, into Phase 2/3 clinical development following the encouraging data we presented at CTAD, showing a rapid and statistically significant improvement in an objective measure of cognitive process in Alzheimer's patients," said Dr. Leen Kawas, President and Chief Executive Officer at Athira. "We appreciate the support from this prominent group of investors, which will also enable us to explore the potential of our pipeline of compounds across a range of central and peripheral neurodegenerative and neuropsychiatric indications."
"NDX-1017 represents a novel mechanism for treating Alzheimer's patients and we are very excited to invest in Athira," said Edelman. "Athira has assembled an impressive and seasoned management team with years of CNS drug development experience, and we look forward to supporting an innovative company focused on devastating neurological diseases."
Proceeds from the financing will support a Phase 2/3 Alzheimer's clinical trial of NDX-1017. NDX-1017 is a small molecule therapeutic designed to enhance the activity of a naturally occurring repair mechanism that has the potential to restore neuronal health and brain function.
About Athira Pharma, Inc.
Athira, headquartered in Seattle, is a clinical stage drug development company striving to improve human health by advancing bold and innovative therapies with the potential to restore the lives of people impacted by brain disorders. Athira is currently advancing its lead therapeutic candidate, NDX-1017, a novel small molecule, in later-stage clinical trials for Alzheimer's. For more information, visit www.athira.com. You can also follow Athira on Facebook, LinkedIn and @athirapharma on Twitter and Instagram.
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SOURCE Athira Pharma
