MoonLake, AIRNA, Atsena, and Neurona secure major rounds

SWITZERLAND – In a series of high-profile funding events, several cutting-edge biotech firms have secured substantial investments to accelerate their clinical development programs and commercial readiness.

Leading the charge is MoonLake Immunotherapeutics, which has secured up to $500 million in non-dilutive financing from Hercules Capital.

This financial boost comes at a crucial time for the Swiss-based company as it advances its lead drug, sonelokimab, an IL-17-targeting nanobody currently in eight phase 2 and phase 3 clinical trials for a range of inflammatory diseases.

With pivotal trials in skin disorder hidradenitis suppurativa (HS) expected to read out this summer, MoonLake is on track to potentially launch sonelokimab in 2027 for its first indication.

Subsequently, it intends to expand into additional inflammatory conditions including juvenile HS, palmoplantar pustulosis (PPP), psoriasis, psoriatic arthritis, and axial spondyloarthritis (axSpa).

CEO Dr. Jorge Santos da Silva emphasized that the new financing will empower the company to drive forward its development strategy and build robust commercial readiness—especially in the U.S. market—while complementing its existing cash reserves, which totaled US $448 million at the end of 2024.

AIRNA raises US $155 million in Series B

In parallel, the RNA-editing space is also experiencing significant momentum. AIRNA, a US-German biotech specializing in RNA-editing technology, raised US $155 million in Series B funding led by Venrock Healthcare Capital Partners and Forbion Growth.

AIRNA’s lead candidate, AIR-001, is set to address alpha-1 antitrypsin deficiency (AATD) by correcting the common SERPINA1 PiZ mutation.

The therapy, administered subcutaneously, is poised to enter a phase 1/2 trial, positioning AIRNA as a potential rival to Wave Life Sciences’ RNA-editing therapy for AATD, WVE-006, which has already demonstrated positive early-phase results.

Meanwhile, Atsena Therapeutics has gathered US $150 million in a third-round financing aimed at propelling its gene therapy for X-linked retinoschisis (XLRS) through clinical development.

Atsena’s candidate, ATSN-201, is currently in a phase 1/2 trial known as LIGHTHOUSE. This trial, initiated in 2023 in Durham, North Carolina, involves administering an injection in one eye while using the other as a control.

Led by new investor Bain Capital along with participation from Sofinnova Investments, Abingworth, Wellington Management, and others, Atsena’s funding round marks a critical step toward launching a novel treatment for this inherited eye disorder that can lead to blindness in male children.

Lastly, Neurona Therapeutics from South San Francisco has secured US $102 million in Series B funding to support its off-the-shelf cell therapy for drug-resistant mesial temporal lobe epilepsy (MTLE).

The stem cell-derived therapy, NRTX-1001, is engineered to secrete the inhibitory neurotransmitter GABA.

Currently, surgery remains the standard of care for MTLE, but its invasive nature and associated risks, such as memory impairment, create a pressing need for safer alternatives.

Neurona aims to initiate its phase 3 EPIC trial later this year to demonstrate that NRTX-1001 can offer a less invasive treatment option for patients with refractory epilepsy.

The round attracted investments from Fidelity Management & Research Company, The Column Group, Soleus Capital, Viking Global Investors, and Cormorant Asset Management among others.