Led by former Juno and Alder exec, Seattle neurology startup Eliem Therapeutics raises $80M

Bob Azelby. (Eliem Photo)

New funding: Eliem Therapeutics, a new Seattle biotech startup led by former Juno Therapeutics exec Bob Azelby, raised $80 million to develop clinically-validated therapies for pain and depression.

The pipeline: Founded in 2019, the company has two lead drug candidates in development: ETX-810 for chronic pain and ETX-155 for major depressive disorder, hormone-related mood disorders, and focal onset seizures. 

ETX-810 is described as an investigational non-opioid that uses the palmitoylethanolamide (PEA) pathway to influence neuroinflammation and pain signaling. ETX-155 is an neuroactive steroid that acts as a GABAA positive allosteric modulator (PAM), which can treat seizures,