Stalicla SA, a clinical-stage biopharmaceutical company advancing precision medicine pipelines for neuropsychiatric and neurological disorders, successfully completed the first closing of its Series B financing round, securing $17.4 million.
Geneva-based STALICLA has developed the first neurodevelopmental disorder-specific precision medicine platform with an initial application in autism spectrum disorder (ASD). Two assets STP1 and STP2 are in clinical development. STP1 has completed a Phase1b trial in February 2022 in ASD-Phen1 patients, showing: 1) a good safety-tolerability profile; 2) a strong dose-related target engagement, and 3) PK/PD modeling showing strong correlation between STP1 dosage and autism severity standardized scores (ABC, SRS).
In addition, STALICLA has acquired global rights for Novartis’ drug candidate, mavoglurant, a treatment for substance-use disorders and neurodevelopmental disorders (NDDs), now called STP7.
The proceeds will be utilized for: (i) preparation of Stalicla’s pioneering precision Autism Spectrum Disorder (ASD) Phase 2 trial – STP1; (ii) the establishment of its STP7 platform, including the launch a Phase III study in Substance Use Disorders (SUDs) slated for 2025, fully supported by the NIH /National Institute on Drug Abuse; (iii) the ramp up of its ongoing biosampling/ patient identification trial STA-B-001 currently enrolling in sites in the USA, Spain and Australia. Alongside these key developments, Stalicla will further strengthen the package supporting its second precision ASD asset, STP2.
The financing round was led by SPRIM Global Investments Pte, Ltd, with key participation from core investors, this funding includes a $3.8 million credit facility. Lynn Durham, CEO of Stalicla commented: “This financial backing underscores Stalicla’s role as a trailblazer in the neuro precision space with first applications in precision psychiatry. Additionally, our STP7 mGluR5 NAM platform is offering multifaceted advanced clinical development opportunities in the wider neurology space in a timely period of recent clinical progress & increased transaction activity level in the neurology and neuropsychiatry space. There has never been a more promising time to advance transformative treatment options for millions of patients with brain diseases and Stalicla is determined to play a key role in this progress.”