Axon Therapies, a clinical-stage medical device company pioneering a new approach to treating heart failure, announced the close of an oversubscribed $32 million Series A financing. The round was co-led by new investors Earlybird Venture Capital and Santé Ventures, with participation by existing investor Deerfield Management and new investors CD Capital and KOFA Healthcare.
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The financing will accelerate Axon’s next phase of clinical development, including two double-blinded randomized feasibility studies in heart failure – a condition that affects millions of people worldwide with limited treatment options. The first is a confirmatory study for its novel splanchnic ablation therapy in patients with Heart Failure with Preserved Ejection Fraction (HFpEF). The second is a multiple-center study of splanchnic ablation in Failure with Reduced Ejection Fraction (HFrEF).
In conjunction with the financing, the company announced that Zoar Engelman, PhD, Axon’s co-founder and former Chief Scientific Officer, has been appointed Chief Executive Officer.
“Heart failure is one of the leading causes of hospitalization and death worldwide, yet patients still face a lack of effective treatment options,” said Dr. Engelman, CEO of Axon Therapies. “Our implant-free, minimally invasive therapy is designed to address a core physiological driver of the disease. This funding positions us to advance to pivotal trials and bring hope to patients who urgently need new solutions.”
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Axon’s proprietary approach, Splanchnic Ablation for Volume Management (SAVM), targets overactivity in the sympathetic nervous system, a key mechanism that worsens heart failure. The company’s Satera Ablation System is a catheter-based, implant-free procedure that has the potential to slow disease progression and improve quality of life for patients.
Axon Therapies has also established a new European headquarters, Axon Vascular Europe Ltd, in the UK. “The opening of our new European headquarters in the UK provides a focused hub to accelerate our clinical trial efforts and strategically positions us for future entry into the large European heart failure market,” noted Dr. Engelman.
“Our investment in Axon Therapies was driven by a clear vision to address a large unmet clinical need and improve the lives of patients with heart failure,” said Dr. John Yianni, Partner at Earlybird Venture Capital. “With Dr. Engelman’s leadership and the team’s groundbreaking technology, we are excited to support Axon as they advance solutions that can make a real difference for patients and their families.”
“Axon’s technology represents a first-in-class solution poised to capture a multi-billion-dollar market, making it a highly attractive asset for any major cardiovascular player,” added Dr. James Eadie, Managing Director and Partner at Santé Ventures. “These randomized feasibility studies are designed to significantly de-risk the therapy and establish a strong foundation ahead of a pivotal trial, creating what we believe will be a cornerstone technology for the right strategic partner.”
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Source – PR Newswire
