Domain Thera raises 2.1M euros to fund GPCRs development

Strasbourg, France-based Domain Therapeutics, a drug discovery company focused on the identification of allosteric modulators of G Protein-Coupled Receptors (GPCRs), says that it has successfully completed a new fundraising of 2.1 million euros ($2.8 million). New investors are Alsace Inter Regio Fonds d'Investissement, Alsace Creation, Sam Eletr and Bernard Gilly. AGF Private Equity, Auriga Partners, Edmond de Rothschild Investment Partners and Sofinnova Partners, all of which were already investors in the firm, and previously-named Faust Pharmaceuticals, have also participated in the new round of financing.

The money raised will go principally towards the early development of allosteric modulators targeting GPCRs involved in major therapeutic indications. Domain Therapeutics has built up its pipeline using its proprietary technology platform. The pipeline consists of New Chemical Entities targeting hot receptors such as mGluR2, mGluR4 and GLP-1R for major indications including schizophrenia, Parkinson's disease and diabetes.