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The round of funding also included Merck Serono Ventures, investor and co-founder of the company
Ysios Capital, a venture capital firm specializing in biotechnology and medical technology, participated in the first round of funding for Swiss company Prexton Therapeutics along with Sunstone Capital, with a total investment of €8.7 millions.
Merck Serono Ventures, investor and co-founder of the company, also participated in this operation, which will allow Prexton Therapeutics to advance clinical development of its first compound to treat motor complications associated with Parkinson through Phase Ib results.
Raul Martin-Ruiz, investment director at Ysios Capital and head of the investment in Prexton, explains that this is the first investment of their second fund, Ysios Biofund II Innvierte, and that they believe “it is clearly representative of the type of opportunities the firm is looking for: an innovative therapeutic approach, targeting an unmet medical need and with the potential to reduce spending in health systems beyond that purely related to the price of medications.”
Prexton’s first compound is a positive allosteric modulator that targets metabotropic glutamate 4 receptors (mGluR4), and has seen unprecedented results in the research phase. The compound targets the receptor directly, and that is what makes it truly innovative. Modulating this receptor can potentially improve motor complications and even reduce or prevent the adverse effects of drugs used today.
The global Parkinson market is now dominated by mature products that act on the dopaminergic system and often have adverse effects. Thus, most experts support the development of more efficient therapeutic approaches that limit –and ideally eliminate– the adverse effects of current treatments.