Published 12 December 2017
Aeonian Pharmaceuticals, a San Francisco Bay Area-based biopharmaceutical company, has closed a seed financing round led by Apollo Ventures and Life Sciences Company.
In connection with the investment, James Peyer, Managing Partner of Apollo Ventures, has joined Aeonian’s Board of Directors.
Aeonian is an early-stage company engaged in the discovery and development of compounds harnessing the latest scientific breakthroughs to treat multiple diseases by addressing the underlying causes of disease initiation and progression, such as oxidative, cellular, and environmental stress.
The Company’s lead compounds are novel and highly selective therapeutics modulating the mTORC1 pathway in order to treat rare diseases. Aeonian expects to use the proceeds from the transaction to advance its pipeline of innovative therapeutic candidate programs based on its discovery of the most highly selective inhibitors of the mTORC1 pathway ever discovered.
“The closing of this financing will allow us to accelerate clinical development of our lead programs,” said Stelios Tzannis, Aeonian’s President & Chief Executive Officer. “mTORC1 is at the core of many different diseases, and the new medicines we are developing have potential to change the lives of patients suffering from rare diseases.”
“Aeonian has taken advantage of a new understanding of basic biology to find molecules that scientists all over the world have spent decades searching for,” said James Peyer, Managing Partner of Apollo Ventures.
“We are incredibly excited to join in as Aeonian works to bring these exceptionally promising medical advances to the people who need them most.”
Source: Company Press Release