STALICLA secures USD 17.4 million to propel neuro precision medicine
Life sciences
22 January 2024
STALICLA has developed the first neurodevelopmental disorder-specific precision medicine platform with an initial application in autism spectrum disorder (ASD).
STALICLA, a prominent Geneva-based clinical-stage biopharmaceutical company, has achieved a significant milestone to pioneer precision medicine for neuropsychiatric and neurological disorders.
Based at Campus Biotech in Geneva, STALICLA is a precision molecular neuroscience clinical-stage company. It is advancing through its DEPI precision neuro platform two precision autism assets: STP1 and STP2. Following the in-licensing of mavoglurant from Novartis in 2023, STALICLA has also established an advanced mGLuR5 NAM platform, heralding a new era in neurology and neuropsychiatry treatment possibilities.
In January 2024, the company successfully completed the first closing of its Series B financing round, securing USD 17.4 million. This round was led by SPRIM Global Investments Pte, Ltd, and saw substantial contributions from core investors, including a USD 3.8 million credit facility.
This influx of funding is earmarked for several pivotal initiatives. Primarily, it will support the preparation of STALICLA’s groundbreaking precision Autism Spectrum Disorder (ASD) Phase 2 trial – STP1. Furthermore, it will enable the establishment of its STP7 mGluR5 Negative Allosteric Modulator (mGluR5 NAM) platform. This includes launching a Phase III study in Substance Use Disorders (SUDs) scheduled for 2025, fully backed by the NIH/National Institute on Drug Abuse. Additionally, funds will bolster the ongoing biosampling/patient identification trial STA-B-001, currently enrolling participants in the USA, Spain, and Australia. STALICLA also plans to enhance the support package for its second precision ASD asset, STP2.
CEO Lynn Durham expressed enthusiasm about this development: “This financial backing underscores STALICLA’s role as a trailblazer in the neuro precision space with first applications in precision psychiatry. Additionally, our STP7 mGluR5 NAM platform is offering multifaceted advanced clinical development opportunities in the wider neurology space in a timely period of recent clinical progress & increased transaction activity level in the neurology and neuropsychiatry space. There has never been a more promising time to advance transformative treatment options for millions of patients with brain diseases and STALICLA is determined to play a key role in this progress.”
In light of these advancements, STALICLA is set to strengthen its management team and board of directors, laying a robust foundation for its future endeavors.
