Exciva GmbH has raised €51 million ($59m) in a Series B funding round to advance clinical development of its novel therapy for agitation in Alzheimer’s disease (AD). The proceeds will primarily support a phase 2 study evaluating Deraphan, a combination of two clinically validated products including one novel chemical entity (NCE), which has shown potential to improve efficacy and the risk/benefit profile over existing therapies.

Deraphan has already completed a phase 1 trial, demonstrating safety and tolerability. The phase 2 study is set to run across Europe, the UK, the US and Canada, with the aim of addressing the behavioral and psychological symptoms that affect a significant proportion of AD patients. These symptoms—including agitation, aggression, sleep disorders, irritability, depression, anxiety and hallucinations—pose serious challenges to patients and caregivers alike. Studies suggest that more than 70% of people with AD develop agitation at some point during the illness, yet treatment options remain limited and often carry significant side effects.

François Conquet, CEO of Exciva, said: “We are delighted that we could attract funding from both existing and new investors. This confirms that our product is highly promising. If the results of the phase 2 trial are positive, it will be a significant step forward in symptomatic treatment options for patients with Alzheimer’s disease.”

The Series B round was co-led by Gimv and EQT Life Sciences, with additional participation from Fountain Healthcare Partners, LifeArc Ventures, Carma Fund and Modi Ventures, as well as existing investors Andera Partners and LBBW. Exciva will use the funding to accelerate clinical development, support regulatory planning and scale the operational infrastructure required to manage a multi-regional trial.

Andreas Jurgeit, partner at Gimv, said: “Exciva’s therapy for agitation in Alzheimer’s disease is highly differentiated, addressing significant shortcomings in the current standard of care and other products under development. We are pleased to collaborate with the Exciva team—backed by decades of expertise in neuropsychiatry drug development, including approved therapies—to transform care for this challenging aspect of dementia.”

Philip Scheltens, partner at EQT Life Sciences, added: “This investment illustrates the potential of Exciva to bring an exciting innovation into a therapeutic area where Alzheimer’s patients have limited or no treatment options. We are delighted to co-lead this financing to realize Exciva’s potential, which stands out for both the quality of its science and the expertise of the team. We look forward to bringing this new therapy to patients.”

The Series B will also reshape the board of directors, which will include Raphaël Wisniewski (Andera Partners), Philip Scheltens (EQT Life Sciences), Andreas Jurgeit (Gimv), Aidan King (Fountain Healthcare), Vikram Sudarsan (independent member) and François Conquet (CEO).