The Berlin biotech company Eternygen GmbH reports a financing rune in which the TecDAX-listed Evotec from Hamburg has also participated. While Evotec has taken on the role of anchor investor, Eternygen received additional funds from the venture capital financiers Epidarex Personal-Financial.com and IBB Ventures as well as various family offices. In total, the Berlin-based company received an amount of 5 million euros as part of the financing round – how much of this will go to anchor investor Evotec is not disclosed.
Eternygen intends to use the money to develop novel therapies for alcohol-free steatohepatitis continue to finance. Among other things, the focus is on the selection of a preclinical development candidate in this indication.
“NASH is expected to become one of the greatest economic and public health burdens in developed countries over the next decade. Effective treatments are urgently needed to address this serious disease that can ultimately lead to cirrhosis of the liver, ”says Marco Janezic, founder and CEO of Eternygen GmbH.
“At Evotec, we are committed to developing disease-modifying therapies for metabolic diseases,” said Cord Dohrmann, CSO Evotec. “Eternygen’s approach to NASH fits very well as it focuses on the inhibition of INDY, a target with increasing evidence that plays an important metabolic role in the development of NASH and related metabolic disorders. Although INDY is not easily traceable via small molecules, Eternygen has been able to identify a number of chemical lead structures that clearly have the potential to be turned into drugs. We are very encouraged by Eternygen’s advances and believe that they will provide much-needed drugs for NASH patients who lack effective treatment options, ”said Evotec’s board member.
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