Switzerland-based biopharmaceutical company Prexton Therapeutics secured €8.7m ($10m) in a series A round backed by MS Ventures, the corporate venturing arm of chemicals and pharmaceuticals producer Merck’s biopharmaceutical division, yesterday.
The round was co-led by venture capital firms Sunstone Capital and Ysios Capital.
Founded in 2012, Prexton originated from the Merck Serono Entrepreneur Partnership Programme, an initiative set up to facilitate spin-outs of Merck’s pharmaceutical subsidiary Merck Serono.
Prexton, which works on treatments for conditions of the central nervous system, will use the series A funding to support the advancement of its lead Parkinson’s disease drug treatment through Phase 1 clinical trials.