Eliem Therapeutics, a US-headquartered developer of treatments for nervous system disorders, has emerged from stealth with $80m from investors including Access Biotechnology, a subsidiary of conglomerate Access Industries.
Investment management firm RA Capital Management and alternative asset manager Intermediate Capital Group are the other investors in Eliem, which has raised the $80m since it was launched. Liam Ratcliffe, head of Access Biotechnology, is on its board of directors.
Founded in 2019, Eliem is working on therapeutics for neuronal excitability disorders, an area which covers chronic pain, depression, epilepsy and anxiety.
The startup’s product pipeline includes ETX-810, which is in phase 2a clinical trials for lumbosacral radicular pain and diabetic peripheral neuropathic pain, and ETX-155, which is in phase 1 studies and which could potentially treat major depressive disorder, hormone-related mood disorders and focal onset seizures.
Bob Azelby, president and CEO of Eliem, said: “Most patients with chronic pain and other neuronal excitability disorders struggle immensely to manage their condition with currently available treatments. For many of these patients, the inability to execute day-to-day activities is devastating, and living a normal life can seem out of reach.
“We are confident that our highly experienced and dedicated team is developing treatments that can achieve meaningfully better clinical outcomes for patients, offering them the opportunity to lead the lives they were meant to live.”
