Kasvu Therapeutics has raised a €30M Series A financing round, led by Hadean Ventures, with continuing participation from Nordic Science Investments, Innovestor Life Science Fund, and University of Helsinki Funds. The new investors of the round also included Tesi with a significant stake, as well as the Finnish Drug Discovery Center and Stephen Industries.
NSI is pleased to make a follow-on investment. Kasvu was already on our radar and we were sparring with the Founders before the launch of NSI Fund I, and sobecame one of the fund’s first investments. Matti Hautsalo represents NSI on Kasvu Therapeutics’ Board of Directors.
“Together with colleagues at NSI, we have supported the team through its early development and followed Kasvu’s science closely. We have always believed strongly in Kasvu’s potential to revolutionise neuropsychiatric drugs field, and about Kasvu’s target to decouple the therapeutic effect of psychedelics from hallucinations. I remain convinced by the company’s progress and potential.”
Kasvu is developing small-molecule neuroplastogens, targeted medicines for neuropsychiatric and neurodegenerative conditions. Its proprietary 3D model of the activated TrkB dimer supports the design of selective molecules intended to enhance BDNF signalling, which helps the brain adapt and form new connections.
The approach of Kasvu draws on decades of research into TrkB, BDNF and neuroplasticity. One example is a 2023 Nature Neurosciencestudy co-authored by some of the founders at Kasvu. In mice, the study found that TrkB and BDNF signalling play a role in psychedelic-induced plasticity, while hallucinogenic-like effects followed a separate pathway. Kasvu aims to translate these insights into treatments that promote neuroplasticity without psychedelic effects. The funding round is intended to support planned Phase 1/1b clinical development.
Read more about the round and the underlying science in the full announcement of Kasvu Therapeutics: https://www.kasvutx.com/news-series-a-funding-round
For further reading: Moliner, R. et al. Psychedelics promote plasticity by directly binding to BDNF receptor TrkB. Nature Neuroscience (2023).
