Zug, Switzerland, November 20, 2019 – Arvelle Therapeutics GmbH, an emerging biopharmaceutical company focused on bringing innovative treatments to patients with CNS disorders, is pleased to announce that Arvelle has won the 2019 Lifestars “Series A Finance Raise of the Year” Award.
Mark Altmeyer, President and CEO of Arvelle Therapeutics, said:
We are delighted to have won this award which speaks to both the industry support for Arvelle and the pressing need for innovative new treatments in the CNS space. The $207.5 million raise, completed in February this year, was backed by a leading global syndicate of investors and was one of the largest initial financing commitments for a European‐focused biopharmaceutical company. It’s an exciting time for the Company as we prepare to submit a marketing authorization application for cenobamate for the treatment of focal-onset seizures in adults in H1 2020 and I would like to thank the team at Arvelle for all their hard work and effort as we progress towards this milestone.
Bringing together hundreds of European life science leaders, investors, partners and deal makers, the annual Lifestars Awards are organised by LSX, a highly influential community of senior life science decision markers. The awards ceremony celebrates success stories, breakthrough, transactions and transformational deals and the people, teams and organisations that have played a crucial role in the advancements of the industry in the previous twelve months.
For more information please contact:
Consilum Strategic Communications (international strategic communications)
Mary-Jane Elliott/Susan Stuart/Alex Harrison/Lindsey Neville
Telephone: +44 (0)20 3709 5700
About Arvelle Therapeutics
Arvelle Therapeutics is an emerging biopharmaceutical company focused on bringing innovative solutions to patients with CNS disorders. Arvelle Therapeutics is responsible for the development and commercialization of cenobamate, an investigational anti-epileptic drug, in the European market. Arvelle Therapeutics is headquartered in Switzerland and received start-up financing of $207.5 million, one of the largest initial financing commitments for a European‐focused biopharmaceutical company, with investments from a global syndicate including Andera Partners, BRV Capital Management, F-Prime Capital, H.I.G. BioHealth Partners, KB Investments and NovaQuest Capital Management, LSP. More information is available at www.arvelletx.com.
Cenobamate (YKP3089) was discovered by SK Biopharmaceuticals and SK life science and is being investigated for the potential treatment of partial-onset seizures in adult patients.
Cenobamate is believed to reduce repetitive neuronal firing by inhibiting voltage-gated sodium currents and as a positive allosteric modulator of the GABAA ion channel.
Global trials for adults with partial-onset seizures are ongoing to evaluate cenobamate’s long-term safety and additional clinical trials are investigating cenobamate in other seizure types.
The FDA accepted the filing of the New Drug Application for cenobamate for the potential treatment of partial-onset seizures in adults in February 2019. A Prescription Drug User Fee Act (PDUFA) target action date has been set for November 21, 2019. Cenobamate is not approved by the FDA or any other regulatory authorities. Safety and efficacy have not been established.