Mosanna Therapeutics AG, a Swiss Biotech company today announced that it has secured seed financing led by Forty51 Ventures to pursue the development of AVE0118 which will be referred to as MOS118 going forward, a small molecule developed by Sanofi S.A. (Paris, France).
Mosanna will utilize the funds for formulation and manufacturing optimization and regulatory activities to enable the company's first Phase 1b clinical trial by end-2023.
The company confirmed the appointment of co-founder Dr. Jonathan Talbot as Chief Executive Officer, who said, "I'm excited to develop a treatment for one of the modern world's growing, global health crises. Mosanna aims to bring the first, targeted precision medicine to Obstructive Sleep Apnea patients with a focus on the devastating cardiometabolic impact of this disease." Dr. Talbot brings broad industry experience with a strong track record in Pharma.
The company also announced the appointment of industry veteran Ben Machielse as Chairman of the Board. Mr. Machielse's impressive career includes a former role as CEO of Vtesse, a company developing treatments for Niemann Pick Disease that was acquired by Sucampo in 2017, and COO at Omthera Pharmaceuticals, a company in the cardiovascular space acquired by AstraZeneca in 2013.
Dr. Patrick Lévy, Professor at Université de Grenoble (France) and leading Key Opinion Leader in the field of Obstructive Sleep Apnea celebrated Mosanna's emergence saying, "I am delighted that all the excellent basic research and clinical work performed by Sanofi with this compound will now be taken forward by Mosanna with a focus on the important metabolic impacts of OSA."
Mosanna Therapeutics was co-founded by Forty51 Ventures, a new Biotech Venture Capital fund focused on company formation in Biotech. Forty51 Ventures led the Seed Financing and will join the Board of Directors.
About Metabolic Obstructive Sleep Apnea
MOSA is characterized by obstruction of the upper airway during sleep that occurs when the muscles that support the soft tissues in the throat temporarily relax. Breathing is impaired or completely prevented causing blood oxygen levels to drop below the normal range. Low oxygen levels increase cardiac load and stress the nervous system which if left untreated increases significantly the risk for cardiovascular mortality. MOSA can also result in excessive daytime sleepiness and memory or concentration problems. Hundreds of millions of people around the globe are affected by MOSA