Kasvu Therapeutics raises €30 million to advance KTX-0141, a selective TrkB potentiator, into Phase 1/1b development for major depressive disorder.
Written By: Rishabh Sonawane, BPharm
Reviewed By: Pharmacally Editorial Team
Kasvu Therapeutics has raised €30 million in a Series A financing to advance KTX-0141, a selective TrkB positive allosteric modulator (PAM), toward IND/CTA-enabling studies and Phase 1/1b development in major depressive disorder (MDD).
€30 Million Series A Supports KTX-0141 Development
The Helsinki-based biotechnology company will use the financing to support regulatory-enabling studies and preparation for first-in-human clinical testing. Clinical development is expected to begin in the second half of 2027, with Phase 1/1b studies evaluating KTX-0141 in patients with MDD and including an initial efficacy assessment with a control arm.
The Series A was led by Hadean Ventures, with significant participation from Tesi (Finnish Industry Investment) and existing investor Innovestor Life Science Fund. Finnish Drug Discovery Center, Stephen Industries, Nordic Science Investments and Helsinki University Funds also participated.
Selective TrkB Modulation Targets Neuroplasticity
KTX-0141 belongs to a class of small-molecule TrkB PAMs that increase signaling through Tropomyosin Receptor Kinase B, a receptor for brain-derived neurotrophic factor (BDNF) and an important regulator of neuronal plasticity.
The approach is based on research showing that psychedelics such as LSD and psilocybin can bind directly to TrkB and promote neuroplasticity. Their therapeutic development, however, remains constrained by activity at the serotonin 5-HT2A receptor, which produces hallucinogenic effects and necessitates supervised administration in clinical settings.
Kasvu’s approach instead focuses on TrkB without directly engaging 5-HT2A. KTX-0141 potentiates endogenous BDNF signaling, amplifying the brain’s natural TrkB pathway while preserving physiological control of receptor activity rather than indiscriminately activating TrkB.
Preclinical Data Support Clinical Advancement
In preclinical studies, KTX-0141 increased TrkB signaling and produced structural and functional measures of neuroplasticity. The candidate has also shown drug-like properties and a favorable preclinical safety profile, according to the company.
Kasvu reported no hallucinogenic activity in an industry-standard preclinical model. However, these findings remain preclinical and will need validation in human studies.
The program originated from research by Professor Eero Castrén at the University of Helsinki, whose work identified TrkB as a direct molecular target of psychedelics. Kasvu subsequently developed an in silico three-dimensional model of TrkB that identified a transmembrane binding pocket associated with LSD and psilocybin. The company used this structural information to discover small-molecule PAMs that bind the same site but are structurally distinct from psychedelics.
MDD Provides the Initial Clinical Target
MDD affects an estimated 322 million people worldwide. A substantial proportion of treated patients do not achieve adequate responses to initial antidepressant therapies, leaving continued unmet need for treatments with faster and more durable effects.
Kasvu is pursuing TrkB potentiation as a potential neuroplastogen approach that could retain the neuroplasticity associated with rapid-acting therapies while avoiding psychedelic effects. The company has proposed that successful development could ultimately support administration outside specialized clinical settings, although this will depend on clinical efficacy, safety, dosing and regulatory evaluation.
Phase 1/1b Development Expected in 2027
CEO and co-founder Jami Mandelin said the company has progressed from its initial scientific hypothesis to a selective TrkB potentiator within three years. Incoming board member and Hadean Ventures Principal Georgina Askeland highlighted the potential of translating neuroplasticity biology into treatments that could reach patients without requiring psychedelic-assisted administration.
The €30 million financing will support KTX-0141 through IND/CTA-enabling studies and into Phase 1/1b development. The first clinical studies are expected in the second half of 2027, with an efficacy assessment in patients with MDD intended to guide subsequent development.
Reference
Kasvu Therapeutics Raises €30 Million Series A Financing Round led by Hadean Ventures to Advance its Novel TrkB Potentiator into Clinical Development Targeting Neuropsychiatric Disorders, Kasvu Therapeutics, 24 September 2026
Moliner, R., Girych, M., Brunello, C.A. et al. Psychedelics promote plasticity by directly binding to BDNF receptor TrkB. Nat Neurosci 26, 1032–1041 (2023). https://doi.org/10.1038/s41593-023-01316-5
About the Writer
Rishabha Sonawane, B.Pharm (LinkedIn) is healthcare writer with a strong interest in medical writing, regulatory affairs, clinical research, and AI-driven drug discovery. He has completed specialized training from the NIH and ICMR in clinical pharmacology, clinical research, and scientific writing. Passionate about evidence-based healthcare communication, he focuses on translating complex scientific research into clear, accurate, and engaging medical content.