Swiss Biotech STALICLA Announces Closure of USD 8M (CHF 7.7) for Second Tranche of Series A
GENEVA--(BUSINESS WIRE)--Feb 3, 2020--
STALICLA SA, a near clinical stage Swiss Biotech company leading the field of precision medicine for Neurodevelopmental Disorders (NDDs) - including conditions like Autism Spectrum Disorder (ASD) or Developmental Delay - today announced the successful closure of the second tranche of its series A for an amount of USD 8M (CHF 7.7M). The round was supported by a consortium of Swiss, European and US private equity and Biotech experienced investors. STALICLA will use the proceeds of this second tranche to move its lead ASD precision medicine candidate - STP1 - into Phase 1b clinical trials and its second program, STP2, into IND enabling pre-clinical studies.
Funds will also support the scale-up of STALICLA’s first in class Neurodevelopmental Disorder focused discovery platform. This new round of financing brings the company’s total equity financing to USD 18.4M over the last 30 months.
“I am honored and proud that existing Shareholders and new investors are consolidating their trust in STALICLA’s unique assets and growth potential – STALICLA is the first ever precision medicine company in the Neurodevelopmental Disorder space. Leveraging on its cutting-edge NDD precision medicine platform, STALICLA has demonstrated its capacity to execute rapidly on its development plan by bringing STP1 towards clinical stage in less than 3 years. The proceeds of these financing series will support STALICLA’s sustained operations towards a drastic shift in the field of NDDs.” – said Lynn Durham, CEO & Founder
STALICLA is a near clinical Company developing a first in class precision medicine platform to accelerate drug development for patients with Neurodevelopmental Disorders (NDDs). First focus of development has been Autism Spectrum Disorder (ASD). Today, patients diagnosed with ASD account for 1-1.5% of the world population. The condition remains a high unmet medical need.
In its Geneva and Barcelona units, STALICLA has assembled a world class team of experienced drug developers and computational biologists. The company is recognized as a disruptive key player in the NDD space, using its DEPIv3 innovative systems biology AI platform. DEPIv3 integrates domain specific large-scale genetic, molecular, pharmacological and clinical data to define patient subgroups and to identify personalized treatments.
It is the first time that such technologies have been utilized within the field of neurodevelopment with the potential to change the direction of the specialty.
In less than 3 years, the STALICLA platform has already proven successful in expediting and de-risking drug development for a first subgroup of patients with Autism and identifying two additional subgroups.
STALICLA’s first therapeutic package - STP1 - addresses this first distinct subgroup of ASD patients estimated to 1.5 - 2M people in the EU and North America. Clinical entry for STP1 is planned first half 2020.
To support its platform and pipeline development, STALICLA has developed a network of top tier research and clinical partners in the US.
STALICLA is currently scaling up DEPIv3 to advance new pipelines for additional groups of patients with NDDs.
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CONTACT: Lynn Durham
0041 (0) 22 545 12 42
KEYWORD: FRANCE IRELAND UNITED KINGDOM SWITZERLAND EUROPE
INDUSTRY KEYWORD: RESEARCH FINANCE GENETICS CLINICAL TRIALS PROFESSIONAL SERVICES BIOTECHNOLOGY HEALTH PHARMACEUTICAL SCIENCE
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PUB: 02/03/2020 12:38 PM/DISC: 02/03/2020 12:38 PM