San Diego’s Autobahn Therapeutics raises $32.7 million to pursue depression treatment

Autobahn Therapeutics, a San Diego startup working on a therapy for treatment-resistant depression, has raised $32.7 million in financing from existing investors led by ARCH Venture Partners.

The company, which was founded on research from Dr. Tom Scanlan of Oregon Health & Science University, is developing a brain chemistry platform for central nervous system disorders. Its drug candidate for depression focuses on the role that thyroid hormone plays in the disorder. Autobahn plans to begin an early stage dosing trial for the drug later this year.

Treatment-resistant depression is defined as a mental health disorder where patients fail to respond to two or more approved medications. It is the third most common cause of disability worldwide.

“Since founding, our focus has been on advancing meaningful therapeutic options for people with central nervous system disorders, and this latest financing allows us to continue toward execution of that mission,” said Kevin Finney, Autobahn’s chief executive, president and chairman, in a statement.

In 2020, Autobahn raised $76 million in an initial round of funding to launch its operations. In addition to ARCH Ventures, the company is backed by Cowen Healthcare Investments, BVF Partners, Biogen, Bristol Myers Squibb, Pfizer Ventures, Invus, Section 32, Samsara BioCapital, Alexandria Venture Investments and GT Healthcare.

Autobahn’s drug candidate is a thyroid hormone receptor beta agonist, which the company says could have uses beyond treatment-resistant depression. Based on findings from its Phase 1 study, Autobahn plans to evaluate its therapy for additional disorders, including multiple sclerosis.