Axial Therapeutics Raises $37 Million in Series C Financing; Proceeds To Support Clinical Trial Of Compound To Treat Irritability In Children With Autism

Axial Therapeutics, a clinical-stage biopharmaceutical company focused on neurological diseases, completed a $37.25 million Series C financing round. The proceeds will support Axial's randomized, controlled Phase 2b clinical trial for lead candidate, AB-2004, a molecular therapeutic to treat irritability in children with autism. The additional financing builds upon Axial’s earlier Series A and Series B financing rounds, bringing total investment in the company to $91.5 million to date.

The funding round was led by new investors OneVentures, a venture capital firm headquartered in Sydney, Australia, and the University of Tokyo Innovation Platform Company (UTokyo . . .