Inserm Transfert Initiative was among the investors in a $12.3m funding round for Aelis Farma, which is working on a new class of drugs for cognitive disorders.
Aelis Farma, a France-based drug developer spun out of Inserm, has raised €11m ($12.3m) in a funding round backed by the research institute’s tech transfer arm, Inserm Transfert Initiative.
The round also included regional funds ACI, Naco and Aelis Innovation, the latter managed by Irdi Soridec Gestion, as well as public investment bank Bpifrance and the regional government of Région Nouvelle Aquitaine.
Founded in 2014, Aelis Farma is working on a new class of drugs – CB1 signalling specific inhibitors (CB1-SSi) – that mimic a natural defence mechanism of the brain but do not block all cellular activities of the receptor and do not modify physiology or behaviour.
CB1-SSi specifically modifies the principal target of cannabinoid therapeutics, the CB1 receptor, which is involved in conditions affecting the central nervous system and peripheral organs.
Aelis Farma’s focus is on treatments for cannabis-related disorders, including addiction and acute pyschosis, and on cognitive disorders affecting the elderly and people living with Down syndrome.
The funding, together with a $10m grant from the National Institute on Drug Abuse, part of the US National Institutes of Health, will support international phase 2 clinical trials for its two lead assets.
Aelis Farma has received $14m in funding to date, according to MyPharma, which also identified Inserm Transfert Initiative, Bpifrance, ACI, NACO, Aelis Innovation and Région Nouvelle Aquitaine as existing shareholders.
Reports in March 2014 suggested Aelis Farma was seeking $1.8m in equity financing, but the company does not appear to have released an official statement regarding its historical funding.
