26 June 2019 - - US-based biotechnology company Axial Biotherapeutics has received a direct investment of USD 10m from Taiho Ventures, LLC to fund the discovery and development of novel gut-targeted, small molecule approaches in oncology, the company said.
As part of this investment, Sakae Asanuma will be joining the Axial Board.
The USD 10m investment from Taiho Ventures is an extension of Axial's previously closed series B round in February 2019.
With this investment, Axial has raised a total of USD 35m in its series B financing.
In conjunction with this investment, Axial will maintain control of the new oncology programs and Taiho Ventures will have a first right to negotiate for an exclusive license related to the new programs. Axial retains all of its rights to its existing CNS programs.
Axial Biotherapeutics is a clinical stage biopharmaceutical company pioneering novel science focused on the interaction between the brain and the gut to mitigate the causes and symptoms of CNS and other gut-derived diseases.
The company has built a pipeline of novel small-molecules and live biotherapeutics with lead programs to address the significant unmet patient needs associated with Parkinson's Disease and Autism Spectrum Disorder.
Taiho Ventures is the corporate venture capital arm of Taiho Pharmaceutical Co., Ltd., a Japanese specialty pharmaceutical company focusing on oncology, allergy and immunology, and urology.
Taiho Ventures is a newly established strategic investor looking at early stage preclinical oncology companies as well as platform technology companies for its core therapeutic areas.
The business will review the variety of modalities (both biologics and small molecules) and opportunities mainly in US and Europe. It will also consider the option-type of investments and spin-outs, in addition to pure equity investments.