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ARTICLE | Financial News

Prexton raises EUR 29M in series B round

February 7, 2017 5:27 PM UTC

Neurology company Prexton Therapeutics S.A. (Plan-les-Ouates, Switzerland) raised EUR 29 million ($31.2 million) in a series B round co-led by Forbion Capital Partners and Seroba Life Sciences. Also participating were prior investors MS Ventures, Ysios Capital and Sunstone Capital.

This year, Prexton plans to begin two Phase II studies of lead candidate Foliglurax (PXT002331) to treat Parkinson's disease (PD). The candidate is a small molecule positive allosteric modulator (PAM) of metabotropic glutamate receptor subtype 4 (mGluR4; GRM4). The company expects results from both in December 2018, after which it hopes to partner the program with a pharma. Both trials will evaluate reduction in "off" time as the primary endpoint. ...