New approach targets Elk1 to restore neuroplasticity without sedation or addiction risk

Elkedonia, a new biotech company focused on novel treatments for neuropsychiatric disorders, has secured EUR 11.25 million in seed funding to advance its lead programme targeting treatment-resistant depression. The round was co-led by Kurma Partners, WE Life Sciences, and the French Tech Seed fund managed by Bpifrance, alongside Argobio, Angelini Ventures, CARMA Fund, Capital Grand Est and Sambrinvest.

Headquartered in Strasbourg, France, with an affiliate in Charleroi, Belgium, Elkedonia is developing a new class of non-addictive, non-hallucinogenic neuroplastogens that act on Elk1, a target within the brain’s intracellular signalling pathways involved in neuroplasticity and reward circuits. Unlike psychedelics or ketamine-based therapies, the molecules in development are designed to restore plasticity without sedation, hallucinations or dependency risks.

The company was founded by Argobio, a startup studio that brings together academic research and industry insight to create novel biotech ventures. Elkedonia’s approach is based on research from Sorbonne University and the French National Centre for Scientific Research, which identified Elk1 as a critical mediator of maladaptive plasticity in conditions such as depression, post-traumatic stress disorder and addiction.

“Depression is not only a global crisis but also a deeply personal one. We urgently need alternatives that are both effective and tolerable,” said Delphine Charvin, CEO and co-founder of Elkedonia. “Our goal is to develop a medicine that brings real hope to people who have not found relief from existing treatments.”

Charvin said the company’s platform offers a differentiated strategy from existing antidepressants and emerging psychedelic therapies. “Elk1 is an intracellular target that acts downstream of synaptic activity, giving us a unique opportunity to intervene with precision. We believe our molecules have the potential to provide rapid relief, without the need for dissociation or hallucination to drive efficacy.”

Major Depressive Disorder (MDD) affects over 300 million people worldwide and is one of the leading causes of disability. In Europe and the US alone, around 50 million individuals are affected. Despite the widespread use of selective serotonin reuptake inhibitors (SSRIs) and other standard treatments, approximately one in three patients remain resistant to available therapies, leading to a rise in treatment-resistant depression (TRD). MDD is also closely linked with suicide, which is the third leading cause of death among people aged 15 to 29.

“There is a huge unmet need in mental health for treatments that work quickly and sustainably, without undesirable side effects,” said Thierry Laugel, chairman of the management board at Argobio and managing partner at Kurma Partners. “Elkedonia brings something new to the table — a fast-acting, well-tolerated approach grounded in decades of neuroscience.”

The funding will be used to optimise small molecule inhibitors of Elk1, validate associated biomarkers, and advance the company’s precision medicine approach. These biomarkers are expected to support patient selection and monitoring of treatment response, allowing for a more personalised strategy.

“We are investing in science that has the potential to move the needle in global health,” said Valentin Tonnel, investment director at WE Life Sciences. “Mental health has historically been underfunded, and this is an exciting example of a company combining rigorous biology with scalable innovation.”

Bpifrance also welcomed the progress. “As a founding backer of Argobio, we are pleased to support Elkedonia’s vision,” said Jean-François Morin, investment director life sciences. “This research underscores France’s commitment to next-generation mental health treatments and the value of translating academic breakthroughs into real-world therapies.”