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Arvelle Announces Closing of Final Tranche of Series A Financing RoundArvelle Announces Closing of Final Tranche of Series A Financing Round Brings the total financing to $207.8m Triggered by successful filing and validation of the MAA for cenobamate Zug, Switzerland, 26 May 2020 - Arvelle Therapeutics, an emerging biopharmaceutical company focused on bringing innovative treatments to patients suffering from CNS disorders, is pleased to announce that the Company has closed the final tranche of its Series A financing round. The final tranche was triggered by the European Medicines Agency’s (EMA) recent acceptance of the marketing authorization application (MAA) for cenobamate for the adjunctive treatment of focal-onset seizures in adults with epilepsy, announced on 26 March 2020. The final tranche of $42.7m, representing 32% of the initial total Series A commitment of $133.3m, along with $74.5m in previously funded product financing, brings the total capital raised to $207.8m. Series A investors include NovaQuest Capital Management, BRV Capital Management, LSP, H.I.G. BioHealth Partners, Andera Partners, F-Prime Capital, KB Investments and members of management. Olivier Litzka at Andera Partners said: “The world-class team at Arvelle have made great strides since the company's inception and we are pleased to support such an innovative organisation as it matures towards becoming a commercial business, with an approved product on the market in Europe.” Matthew Bullard at NovaQuest said: “We believe cenobamate has potential as a new therapeutic option for patients who continue to have seizures despite the use of available treatments. We look forward to supporting the Company and seeing the impact cenobamate could have on patients living with this debilitating condition.” ENDS For more information please contact: Consilum Strategic Communications (international strategic communications) About Arvelle Therapeutics About Cenobamate Cenobamate is believed to work through a unique, dual, complementary mechanism of action: Enhancing inhibitory currents through positive modulation of GABAA receptors at a non-benzodiazepine binding site, and decreasing excitatory currents by both inhibiting the persistent sodium current and enhancing the inactivated state of voltage-gated sodium channels. Long term data of cenobamate is being further studied in the open-label extensions of the double-blind placebo control trials as well as the open-label safety study in adults with focal-onset seizures. Additionally, cenobamate is being assessed in an ongoing randomized, double-blind, placebo-controlled trial evaluating its safety and efficacy as adjunctive therapy in patients with primary generalized tonic-clonic seizures (NCT03678753). |