What does Azafaros do?
Azafaros is a clinical-stage biotechnology company focused on developing disease-modifying therapeutics for rare lysosomal storage disorders. The company leverages compound discoveries from leading research institutions to design treatments that target progressive neurodegeneration associated with these conditions.
How much did they raise?
The company raised €132M in a Series B financing round, which was led by Jeito Capital and co-led by Forbion Growth. Other participants included Seroba, Pictet Group, and existing investors Forbion Ventures, Schroders Capital, and BioGeneration Ventures.
What are their plans for the money?
Azafaros intends to use the funds to accelerate the development of its lead product, nizubaglustat, which is scheduled to enter Phase 3 studies for Niemann-Pick disease Type C and GM1/GM2 gangliosidoses later this year. This advancement is expected to bring the company closer to providing new treatment options for patients facing these severe genetic conditions.
What have they achieved so far?
The company has made significant progress by advancing its dual-acting drug candidate through clinical development and is now poised to enter pivotal Phase 3 trials, marking a critical step in its mission to address rare and often fatal lysosomal storage disorders.
