Jeito Capital leads EUR 132 million oversubscribed Series B financing in Azafaros to advance Phase 3 clinical programs of innovative therapies
in rare inherited neuro-metabolic disorders
- Proceeds will support two Phase 3 pivotal programs with nizubaglustat, lead asset in Niemann-Pick disease Type C disease and GM1/GM2 gangliosidoses, three forms of rare lysosomal storage disorders, as well as expanding Azafaros pipeline to other indications
- The patient benefit drives Jeito’s mission. This investment in life threatening rare genetic disorders, affecting children and young adults illustrates Jeito’s commitment to accelerate the development of high-impact treatments for patients with high unmet needs
Paris, France, May 13, 2025 – Jeito Capital (“Jeito”), a global leading independent Private Equity fund dedicated to biopharma, announces today it is leading an oversubscribed
EUR 132 million Series B financing round in Azafaros, a clinical-stage company focused on developing disease-modifying therapeutics to offer new treatment options to patients with rare lysosomal storage disorders.
The financing is led by Jeito Capital, and co-led by Forbion Growth, with participation from Seroba, Pictet Group and existing investors Forbion Ventures, Schroders Capital and BioGeneration Ventures.
Rachel Mears, Partner, and Julien Elric, Senior Principal at Jeito Capital will join Azafaros’s Board of Directors as Board members.
Founded in 2018 and built on scientific discoveries from Leiden University and Amsterdam University Medical Center (UMC), Azafaros is led by a seasoned team of experts in rare disease drug development and commercialization. The company is developing a first-in-class dual-acting drug candidate to offer new treatment options to patients with lysosomal storage disorders, a group of severe rare genetic diseases that often cause progressive neurodegeneration and, in many cases, fatal outcomes. Its lead asset, nizubaglustat, has been awarded Orphan Drug Designation in both the US and Europe as well as Fast track status in the US.
The financing will advance two Phase 3 programs with nizubaglustat, lead asset in Niemann-Pick disease Type C (NPC) disease and GM1/GM2 gangliosidoses as well as expanding Azafaros pipeline to other indications. The company expects to initiate both Phase 3 studies later this year.
Dr. Rafaèle Tordjman, MD, PhD, Founder and CEO of Jeito Capital, said:
“This investment reflects Jeito’s commitment to accelerating the development of impactful therapies for patients with high unmet needs. Azafaros has the potential to develop new efficient, safe and tolerable therapeutic options for young patients suffering from progressive debilitating and even fatal rare metabolic disorders that generates very high expectations. We look forward to supporting the talented Azafaros team with our collective expertise to accelerate its pivotal clinical developments to go faster to patients.”
Rachel Mears, Partner at Jeito Capital, added:
“Azafaros has been impressive in its execution with nizubaglustat poised to begin Phase 3 clinical development and the potential to significantly improve the lives of NPC and GM1/GM2 patients. We are excited to support and accelerate the Azafaros team in this important next step in the Company’s clinical development journey. Leading this round further demonstrates Jeito’s commitment to making a meaningful difference in patients’ lives by pursuing much needed benefits for those suffering from rare diseases.”
Stefano Portolano, Chief Executive Officer at Azafaros, concluded:
“This successful Series B round marks a significant milestone for Azafaros, allowing us to accelerate the development of nizubaglustat and leverage our scientific understanding and competencies to bring additional candidates into development. The fact that we have been able to attract leading life sciences investors to join our existing strong group of specialist investors is a testament to the impressive accomplishments of the team and the large unmet medical need that currently exists for patients with these hugely debilitating neurological diseases. We look forward to bringing nizubaglustat to patients.”
About Jeito Capital
Jeito Capital is a global leading Private Equity fund with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. Jeito empowers and supports managers through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients’ access globally, especially in Europe and the United States. Jeito has built a diversified portfolio of clinical biopharmas with cutting-edge innovations addressing high unmet needs. Jeito Capital is based in Paris with a presence in Europe and the United States.
For more information, please visit www.jeito.life or follow us on LinkedIn.
About Azafaros
Azafaros is a clinical-stage company founded in 2018 with a deep understanding of rare genetic disease mechanisms using compound discoveries made by scientists at Leiden University and Amsterdam UMC and is led by a team of highly experienced industry experts. Azafaros aims to build a pipeline of disease-modifying therapeutics to offer new treatment options to patients and their families. By applying its knowledge, network and courage, the Azafaros team challenges traditional development pathways to rapidly bring new drugs to the rare disease patients who need them. Azafaros is supported by Leading Healthcare investors including Jeito Capital, Forbion Growth, Seroba, Pictet Group and a syndicate of leading Dutch and Swiss existing investors including Forbion Ventures, BioGeneration Ventures (BGV), BioMedPartners, Asahi Kasei Pharma Ventures, and Schroders Capital.
Contacts:
Jeito Capital
Rafaèle Tordjman, Founder & CEO
Jessica Fadel, EA
Tel: +33 6 33 44 25 47
Maior ICR Healthcare
Stéphanie Elbaz Mary-Jane Elliott / Davide Salvi / Kris Lam
Tel: +33 6 46 05 08 07 Jeito@icrhealthcare.com
Tel: +44 (0) 20 3709 5700
Sean Leous
ICR Healthcare
sean.leous@icrhealthcare.com
Tel: +1 (646) 866 4012
