Vital financing will be used to develop novel therapies for conditions with high unmet medical needs.
Anoat Therapeutics – a company focusing on therapies for cystic fibrosis (CF) – has announced it has raised €2m in seed funding through its AdBio partners.
This critical investment – AFB FII – stems from a company recently established through the AdBio-Inserm Transfert partnership, established last year. The central aim of the collaboration is to finance, support and grow Europe’s most innovative life science start-ups.
Anoat will now use the funds to conduct additional in vivo and in vitro pharmacology assessments, while also defining a lead candidate.
Anoat’s ultimate aim is to bring a transformative therapy option to CF patients for whom existing therapies are not effective – specifically, patients not responsive to or eligible for CFTR (Cystic Fibrosis Transmembrane conductance Regulator) modulator therapies.
Alain Huriez, the managing partner of AdBio Partners, was in no doubt about the funding’s importance: “We are thrilled to have co-founded this first company with Inserm Transfert, bringing together state-of-the-art science developed by Inserm researchers and leading biotech development experts. AdBio Partners’ mission is to support founding scientists in the development of new therapeutic approaches.”
Pascale Augé, Chairman of the executive management board at Inserm Transfert, reflected: “The launch of this first company resulting from the alliance built with AdBio Partners just a year earlier is a great achievement.
“It shows that our respective fields of expertise complement each other and that a close relationship between Inserm Transfert and AdBio Partners facilitates the emergence and early financing of innovative life sciences companies.”
Cystic fibrosis is a progressive genetic disease that affects the pancreas, lungs and several other organs. It is estimated that 105,000 people have been diagnosed with the condition across 94 countries.