EQT Life Sciences has stepped up its commitment to neuroscience by co-leading a €51 million Series B financing in German clinical-stage biopharmaceutical startup Exciva. The round is designed to propel the company’s lead programme into Phase 2 trials, targeting agitation associated with Alzheimer’s disease, one of the most disruptive and under-treated aspects of the condition.
The investment is anchored by EQT Life Sciences’ LSP Dementia Fund and co-led alongside Gimv. The fresh capital brings together a broad syndicate, including Fountain Healthcare Partners, LifeArc, Carma Fund, and Modi Ventures, with continued backing from existing investors Andera Partners and LBBW.
Beyond capital, the investment brings experienced leadership into Exciva’s governance. Following the round, EQT Life Sciences will appoint Philip Scheltens as a Director, with Juliette Lee joining as a Board Observer.
Their involvement strengthens Exciva’s clinical and strategic oversight as it enters a critical development phase. For EQT Life Sciences, the deal reinforces a broader strategy focused on high-impact neuroscience therapies that address clear gaps in patient care.
As Exciva advances Deraphan into mid-stage clinical testing, the company now carries not just financial backing, but a strong signal of confidence from investors betting on a more comprehensive approach to Alzheimer’s treatment—one that recognises behavioural symptoms as central, not secondary, to the disease experience.
Addresses the most overlooked burden of Alzheimer’s
Agitation and other behavioural symptoms affect up to 90% of people with advanced Alzheimer’s disease. These symptoms often trigger hospitalisation, accelerate institutional care, and place an enormous emotional and physical strain on caregivers. Yet treatment options remain limited, inconsistent, and frequently associated with safety warnings.
Despite decades of progress in understanding Alzheimer’s pathology, innovation in managing its neuropsychiatric symptoms has lagged. This gap has become more urgent as populations age, and the number of patients living with severe disease rises sharply.
Exciva was founded by Anton Bespalov, Hans Moebius, and Rao Vepachedu, with François Conquet later joining as CEO, to develop treatments for neuropsychiatric symptoms, particularly in Alzheimer’s.
Its focus squarely targets this unmet need, shifting attention from cognition alone to quality of life for patients and those who care for them. The new funding reflects a growing recognition that meaningful advances in dementia care must include solutions for behavioural symptoms, not just disease modification.
Deraphan to enter phase 2 clinical trial
The Series B will primarily fund a Phase 2 clinical trial of Deraphan, Exciva’s lead therapeutic candidate for agitation linked to Alzheimer’s disease. The study will be conducted across Europe, the United States, and Canada, giving the programme broad clinical exposure early in its development.
Deraphan combines two clinically validated compounds, one of which is a new chemical entity. In Phase 1 studies, the therapy demonstrated encouraging safety and tolerability, an essential differentiator in a treatment area often constrained by side effects and boxed warnings.
Exciva believes this combination approach could deliver a more balanced efficacy and safety profile than existing options, potentially offering physicians a treatment better suited for long-term management of agitation in vulnerable patients.
François Conquet, CEO of Exciva, said: “We are delighted that we could attract funding from both new and existing investors, supporting our belief that our compound is promising. If the results of the Phase 2 trials are positive, it would be a significant milestone in symptomatic treatment options for patients with AD.”
Philip Scheltens, MD, PhD, Partner at EQT Life Sciences, said: “This investment illustrates the potential of Exciva to bring exciting innovation to a therapeutic area where Alzheimer’s patients have limited or no treatment options. We are delighted to co-lead this financing to help realise Exciva’s potential, which stands out for both the quality of its science and the expertise of its team. We look forward to bringing this innovation to patients.”
