Luma Group and CTI Life Sciences Fund led a $55m Series B round in Aeovian Pharmaceuticals.

Luma Group and CTI Life Sciences Fund, venture capital firms, led a $55m Series B round in Aeovian Pharmaceuticals, a clinical-stage biopharmaceutical company, with participation from Foresite Capital, SymBiosis, the TSC Alliance Endowment Fund, Wilson Sonsini, Apollo Health Ventures, Hevolution, Sofinnova Investments and venBio. “Building on the success of our Phase 1 study, we believe AV078 has the potential to be a safer, better-tolerated, and more efficacious treatment option for patients with TSC. The successful close of this financing marks an important milestone for the company and reflects the strong conviction in AV078’s potential to transform outcomes for patients who have long lacked effective treatment options," Allison J. Hulme, Aeovian Pharmaceuticals President and CEO.