With $115 million, biotech startup Axonis Therapeutics pivots to burgeoning pain field

Axonis Therapeutics, a biotech company that has been quietly operating for the last five years, has raised $115 million after retooling its drug pipeline.

The startup announced Wednesday that it closed a Series A round led by Cormorant Asset Management and venBio Partners — its first major financing after subsisting on a string of seed financing deals. Sofinnova Investments, MRL Ventures Fund, Perceptive Advisors, and others also participated in the financing round.

Axonis will use the funds to jump into an emerging area of drug development: non-addictive therapies for pain.

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