Domain Therapeutics raises €2.11M from new and existing investors

Investment round

Domain Therapeutics SA of Strasbourg, France, the drug discovery company specialising in allosteric modulators of G protein-coupled receptors (GPCRs) which changed its name from Faust Pharmaceuticals in December, has completed a fundraising of €2.11 million.

New investors are AIRFI, the Alsace Inter Regio Fonds d'Investissement, Alsace Création, Sam Eletr and Bernard Gilly, while AGF Private Equity, Auriga Partners, EdRIP, Edmond de Rothschild Investment Partners and Sofinnova Partners, all followed on their investments in the company.

The money will go towards the early development of allosteric modulators targeting GPCRs involved in major disease areas. The pipeline consists of new chemical entities targeting receptors including mGluR2, mGluR4 and GLP-1R for indications including schizophrenia, Parkinson’s disease and diabetes.

“This financing round shows that our technology is seen as relevant and having excellent potential,” said Pascal Neuville, CEO of Domain Therapeutics. “We already have several products in our pipeline and the new funds mean we can develop them faster. Given the current financial environment, the new investment is an even more encouraging endorsement of our technology.”