Aeovian Pharmaceuticals Raises $55M Series B to Advance First-in-Class Therapy for Tuberous Sclerosis–Related Epilepsy
Aeovian Pharmaceuticals, a clinical‑stage biopharmaceutical company based in Berkeley, California, has successfully raised $55 million in a Series B financing to accelerate the development of its lead therapeutic candidate, AV078, a first‑in‑class CNS‑penetrant selective mTORC1 inhibitor targeted for refractory epilepsy associated with tuberous sclerosis complex (TSC). The oversubscribed round underscores strong investor confidence in Aeovian’s approach to addressing rare and complex neurological diseases through highly selective small molecules and advances the company toward completing a Phase 2 proof‑of‑concept study for the treatment.
The Series B financing was co‑led by Luma Group and CTI Life Sciences Fund, two investors with deep experience in biotechnology and life sciences investments. Joining the lead investors were strategic and existing backers, including Foresite Capital, SymBiosis Capital Management, the TSC Alliance Endowment Fund, Wilson Sonsini Goodrich & Rosati, and established venture investors Apollo Health Ventures, Hevolution Foundation, Sofinnova Investments, and venBio Partners. This diverse syndicate reflects a mix of biotech‑focused venture capital, specialized life sciences funds, nonprofit mission‑oriented investors, and legal/industry advisors aligned around Aeovian’s mission to deliver targeted therapies for unmet medical needs.
Aeovian’s lead candidate, AV078, is designed to selectively inhibit mTORC1, a protein complex that becomes hyperactivated in TSC due to TSC1 or TSC2 mutations. This hyperactivation drives cellular growth and proliferation that can manifest in severe neuropathology, including refractory epilepsy. Unlike existing treatments that also target mTOR pathways but lack selectivity and CNS penetration, AV078’s engineered profile aims to provide improved efficacy and tolerability with the potential to better manage seizures by directly modulating the underlying biology in the brain.
The proceeds from the Series B round will support the completion of the Phase 2 proof‑of‑concept clinical study in participants with TSC‑related refractory epilepsy, as well as broader pipeline initiatives that leverage Aeovian’s platform of highly selective inhibitors. The financing also enables the company to expand its development capabilities as it transitions from early clinical evaluations toward larger proof‑of‑concept and later‑stage trials.
Aeovian’s path to this milestone has been supported by earlier investments that laid the foundation for clinical advancement. In March 2024, Hevolution Foundation made a significant impact investment of $20 million as part of a $50 million Series A financing extension, reinforcing confidence in Aeovian’s platform and its potential to address TSC and other diseases of aging through selective modulation of the mTORC1 pathway. That investment brought in collaborators such as Evotec, b2venture, and existing investors, and included strategic appointments to the board to support the company’s transition to clinical stages.
The range of investors backing Aeovian reflects a broad interest from both traditional venture capital and mission‑driven organizations in therapeutic innovation for rare and age‑related diseases. Entities such as Apollo Health Ventures, Sofinnova Investments, and venBio Partners have been long‑time supporters of the company through multiple rounds, demonstrating sustained confidence in Aeovian’s platform and leadership. Meanwhile, newer participants in the Series B round, including life science growth funds like Luma Group and CTI Life Sciences Fund, bring fresh capital and strategic input at a critical juncture as the company prepares to generate pivotal clinical data.
The TSC Alliance Endowment Fund’s participation is particularly notable given its mission‑oriented focus on advancing research and treatments for tuberous sclerosis complex. Their investment aligns with ongoing collaborations between Aeovian and the TSC research community, reflecting shared goals to develop therapies that can meaningfully improve outcomes for patients affected by TSC and associated epilepsy.
Under the leadership of President and CEO Allison J. Hulme, Ph.D., Aeovian is positioned to leverage its Series B funding to pursue critical milestones in its clinical development plan, deepen partnerships with investors and research advocates, and continue expanding its pipeline of selective small molecule therapeutics. As the company advances its lead program through mid‑stage clinical evaluation, its funding success underscores growing investor interest in targeted therapies for rare genetic disorders and high unmet medical needs.
Overall, Aeovian’s $55 million Series B financing represents a pivotal moment in the company’s evolution, supporting its transition from early proof‑of‑concept toward clinical proof in a population with limited treatment options and setting the stage for future growth in rare disease drug development.
