Jeito Capital Drives EUR 132 Million Financing for Azafaros
Jeito Capital Drives EUR 132 Million Financing for Azafaros
Jeito Capital has officially taken the lead in a EUR 132 million oversubscribed Series B financing for Azafaros, paving the way for significant advancements in innovative therapies for rare inherited neuro-metabolic disorders.
Supporting Phase 3 Clinical Programs
The funds from this financing round will effectively support two pivotal Phase 3 programs focused on nizubaglustat. This asset is crucial in addressing Niemann-Pick disease Type C and GM1/GM2 gangliosidoses, which are severe lysosomal storage disorders. This initiative will not only enhance Azafaros' portfolio but also extend its reach to other critical medical indications.
Commitment to Patient Welfare
At the heart of Jeito Capital's mission lies a strong commitment to improving patient welfare. By investing in treatments for life-threatening rare genetic disorders that impact children and young adults, Jeito Capital underscores its dedication to developing therapies that address high unmet medical needs.
Strategic Collaborations and Board Involvement
Jeito Capital's substantial financing efforts are complemented by the strategic involvement of stalwarts in the biotech industry. Rachel Mears and Julien Elric will join Azafaros’s Board of Directors as significant contributors to its governance and strategic direction.
Azafaros: Innovating Therapeutics for Rare Diseases
Founded in 2018 and stemming from groundbreaking research at Leiden University and Amsterdam University Medical Center, Azafaros stands out as a clinical-stage company with a specific focus on rare genetic diseases. The dedicated team, composed of experienced professionals in drug development and commercialization, plays a pivotal role in bringing forward an innovative class of treatment options that can significantly alter the prognosis for patients grappling with severe and often fatal diseases.
Future Prospects for Azafaros
With this new financing, Azafaros is on track to initiate its Phase 3 studies within the year. This project encompasses significant potential for changing outcomes for patients suffering from Niemann-Pick disease Type C as well as GM1 and GM2 gangliosidoses, establishing Azafaros as a forward-thinking and essential player in the rare disease space.
Voices from Leadership
Dr. Rafaèle Tordjman, MD, PhD, Founder and CEO of Jeito Capital, expressed: "This investment reflects Jeito’s commitment to accelerating the development of impactful therapies for patients with high unmet needs. Azafaros has the potential to develop new efficient, safe and tolerable therapeutic options for young patients suffering from progressive debilitating and even fatal rare metabolic disorders that generate very high expectations. We look forward to supporting the talented Azafaros team with our collective expertise to accelerate its pivotal clinical developments to go faster to patients."
Additionally, Rachel Mears, Partner at Jeito Capital, commented: "Azafaros has been impressive in its execution with nizubaglustat poised to begin Phase 3 clinical development with the potential to significantly improve the lives of NPC and GM1/GM2 patients. Leading this round underscores Jeito’s dedication to making a meaningful difference in patients’ lives by pursuing much-needed benefits for individuals suffering from rare diseases."
Milestones and Future Directions
Stefano Portolano, Chief Executive Officer at Azafaros, stated: "This successful Series B round marks a significant milestone for Azafaros, allowing us to accelerate the development of nizubaglustat and leverage our scientific understanding. The impressive turnout of leading life sciences investors to join our robust circle of specialist investors showcases our team’s accomplishments and highlights the vast unmet medical need for patients with these debilitating neurological diseases. We are excited about bringing nizubaglustat to the market soon."
Understanding Jeito Capital's Role
Jeito Capital is a prominent Private Equity fund dedicated to furthering innovation in biopharma. This organization focuses on initiatives that not only drive growth but also empower managers via significant investments. Jeito's strategy aims to establish market leaders in therapeutic domains and ensure patients have enhanced access to vital treatments, particularly in Europe and the United States.
About Azafaros
Azafaros, thriving since its inception in 2018, possesses profound insights into the mechanisms of rare genetic diseases. This knowledge, coupled with a team of industry experts, galvanizes the company’s mission to develop disease-modifying therapeutics that present new avenues of treatment for affected patients and their families. Azafaros is recognized for its daring approach to challenge traditional development pathways to expedite the availability of innovative drugs for those suffering from rare conditions.
Frequently Asked Questions
What is the role of Jeito Capital in the financing round?
Jeito Capital is leading an oversubscribed EUR 132 million Series B financing round to support Azafaros in developing crucial therapies for rare diseases.
What diseases are being targeted with the new funding?
The funding will support Phase 3 programs for diseases such as Niemann-Pick disease Type C and GM1/GM2 gangliosidoses.
Who will join Azafaros’ Board of Directors following this investment?
Rachel Mears and Julien Elric from Jeito Capital will join Azafaros' Board of Directors.
When are the Phase 3 studies for nizubaglustat expected to begin?
Azafaros expects to initiate both Phase 3 studies within the year.
What is the vision of Azafaros?
Azafaros aims to develop disease-modifying therapeutics for rare genetic diseases, providing new treatment options for patients.
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