Saniona’s Joint Venture, Cephagenix, Secures Seed Funding from AdBio Partners and AbbVie Ventures
Saniona, a clinical-stage biopharmaceutical company, today announces that Cephagenix - a joint venture established with Professor Jes Olesen in 2020 - has secured an up to €9 million tranched seed financing from AdBio Partners and AbbVie Ventures. The funding will advance Cephagenix’ vascular KATP channel inhibitor program, aimed at developing first-in-class anti-migraine treatments.
Professor Jes Olesen, co-founder of Cephagenix, commented: “I am thrilled to see Cephagenix’s anti-migraine program attracting interest from leading venture investors. My decades of clinical research into migraine mechanisms have contributed to identifying validated targets such as CGRP and PACAP. This work has also demonstrated that vascular KATP channels are critical for migraine induction. Targeting this mechanism could provide a transformative approach to treating this debilitating condition.”
Palle Christophersen, Executive Vice President of Research at Saniona, added: “Saniona’s ion channel expertise, combined with our chemical library and pharmacology database, has enabled significant progress in developing selective vascular KATP channel inhibitors. We are optimistic about selecting one or more development candidates under this seed financing round.”
Cephagenix was established in 2020 by Professor Jes Olesen and Saniona to develop novel migraine treatments targeting mechanisms identified through Professor Olesen’s research. The company’s lead program focuses on identifying subtype-selective ATP-sensitive potassium channel (KATP) inhibitors for migraine treatment. Cephagenix has identified highly selective inhibitors of the KATP channel subtype expressed in intracranial arteries, with first-generation compounds demonstrating efficacy in a relevant rodent migraine model.
The €9 million tranched seed financing, announced today, was led by AdBio Partners and AbbVie Ventures. The proceeds will advance the KATP program toward candidate selection.
About Migraine
Migraine is a common neurological disorder characterized by recurrent headaches of moderate to severe intensity, lasting from a few hours to several days. Current treatments primarily focus on symptom relief and attack prevention, including over-the-counter painkillers, triptans, and calcitonin gene-related peptide (CGRP) antagonists.
According to Evaluate Pharma, annual global sales of prescription migraine medicines are projected to grow from $5.8 billion in 2023 to $12.4 billion in 2030, driven primarily by CGRP antagonists, followed by botulinum toxin and triptans.
Migraine affects approximately 12% of the global population, with 3% suffering from chronic migraine. It carries significant socioeconomic and personal costs. According to the World Health Organization (WHO), migraine is the second most disabling disease globally. Socioeconomic costs in the European Union alone are estimated at €40-100 billion annually. These factors highlight a significant unmet medical need for new, effective, and safe treatment options.
About AdBio Partners
AdBio partners is an AMF-regulated (the French financial market authority) VC firm that invests in a range of sectors within life sciences - specifically in therapeutics-oriented projects. AdBio partners’ unique strategy combines early-stage investments in promising companies and strong entrepreneurial support to strengthen the company’s growth. Created in 2016, AdBio partners has made 25 European investments in France, Belgium, and Spain with two seed-funds. AdBio partners has developed strong relationships within the European innovation ecosystem; as a result, it has attracted international VC syndicates to its portfolio companies. The operational team is composed of investment professionals with extensive corporate experience, combined with strong scientific, medical and operational expertise. Learn more at www.adbio.partners.
About AbbVie Ventures
AbbVie Ventures invests in transformational scientific opportunities aligned with its core R&D interests to gain access to next-generation science and build relationships with proven and emerging scientific leaders. As AbbVie’s corporate strategic venture capital arm, the team focuses exclusively on novel, transformational therapeutics at discovery and pre-clinical stages that address critical needs in oncology, immunology, neuroscience, eye care, and aesthetics. Investing since 2009, AbbVie Ventures offers partners access to AbbVie’s vast internal network of experts in all phases of drug development, from drug discovery through successful commercialization. Learn more at www.ventures.abbvie.com.