BERKELEY, Calif., March 28, 2024 /PRNewswire/ -- Aeovian Pharmaceuticals, a clinical-stage biopharmaceutical company developing novel and highly selective therapeutics that potently inhibit the mTORC1 pathway, today announced that it has dosed the first cohort of participants in a Phase 1 clinical trial for its lead development candidate AV078, a first-in-class CNS penetrant selective mTORC1 inhibitor. Supporting this transition into the clinic, the company has also expanded its leadership team with the appointment of seasoned industry veterans William Greene, M.D., Chief Investment Officer at Hevolution, and Justin Gover, former Chief Executive Officer of GW Pharmaceuticals, to the company's Board of Directors, and appointed Micah Zajic as Chief Financial Officer. The company also recently completed a $50 million financing, led by Hevolution.
San Francisco-based Aeovian Pharmaceuticals has banked $37 million in Series A financing to launch its mTORC1 inhibitor into a proof-of-concept for what the company says is an undisclosed rare CNS disease.