In March 2014, Ataxion secured Series A financing from Atlas Venture and Biogen Idec. In addition to the investment, Biogen Idec is providing non-dilutive R&D and other funding to Ataxion. Biogen Idec will have the option to acquire Ataxion to continue development of the program upon completion of the Phase 1 multiple ascending dose (MAD) study at pre-negotiated terms, including upfront and milestone payments.
In July 2013, Ataxion acquired the ataxia program from Danish biotechnology company Aniona, now renamed Saniona, a world leader in ion-channel drug discovery. Saniona is responsible for key program discovery activities under the direction of Ataxion Chief Scientific Officer Martin Jefson, PhD.