Anoat Therapeutics, a preclinical stage biotechnology company specialised in Cystic Fibrosis (CF), has raised €2m ($2.17m) in seed funding from AdBio partners, a venture capital company specialised in seed investments in life sciences startups.
This investment from the AFB FII fund stems from the AdBio-Inserm Transfert partnership announced in May 2022 to finance, support and grow Europe’s most innovative life science startups. Anoat will use the funds to conduct additional in vivo and in vitro pharmacology assessments and select a lead candidate.
Anoat Therapeutics’ goal is to bring a transformative and mutation-agnostic treatment option to CF patients for whom existing therapies are not effective – for example, patients not eligible or responsive to CFTR (Cystic Fibrosis Transmembrane Conductance Regulator) modulator therapies.
Cystic fibrosis is a progressive genetic disease that affects the lungs, pancreas and other organs. An estimated 105,000 people have been diagnosed with CF across 94 countries.
“We are thrilled to have co-founded this first company with Inserm Transfert, bringing together state-of-the-art science developed by Inserm researchers and leading biotech development experts. AdBio Partners’ mission is to support founding scientists in the development of new therapeutic approaches,” said Alain Huriez, Managing Partner of AdBio Partners.
“Based on highly promising proof-of-concept data and relying on a network of physicians and patient associations, the Anoat team will strive to meet the medical needs of CF patients who, to date, remain without any treatment,” said Vincent Bischoff, CEO of Anoat Therapeutics. “We aim to provide a therapeutic option that will help alleviate the burden of their life-threatening condition. I am particularly proud to take on the role of CEO at this company, which brings together a team of exceptional scientists, seasoned biotech professionals and drug development experts.”