Arvelle Therapeutics, a Switzerland-based central nervous system (CNS) disorder drug developer spun off from pharmaceutical company Axovant, announced on Tuesday it has closed almost $208m in series A and project funding.
Life sciences investment firm led what was described at the time as a $180m series A round for Arvelle in February 2019, investing with Andera Partners, BRV Capital Management, NovaQuest and HIG BioHealth Partners.
However, Arvelle has just closed the final tranche of the round, which it said consists of just over $133m in series A funding from investors also including KB Investments and investment and financial services group Fidelity’s F-Prime Capital unit, and $74.5m in already funded product financing.
Arvelle is preparing to launch cenobamate, a treatment for focal-onset seizures in epilepsy patients that it has licensed from pharmaceutical company SK Biopharmaceuticals.
The final $42.7m tranche of the series A round was triggered when the European Medicines Agency accepted the company’s marketing authorisation application for cenobamate this week.
Mark Altmeyer, Arevlle’s president and CEO, said: “We are pleased to announce the closing of the final tranche of our series A today. We have made great progress at Arvelle since our initial funding and are continuing to build out the team to ensure we are fully prepared to launch cenobamate across Europe following approval.
“The backing of such esteemed, international investors points to the potential of cenobamate as an adjunctive treatment of focal-onset seizures in adults with epilepsy and I would like to take this opportunity to thank all of our investors for their continued support.”
