• Proceeds to advance potentially disruptive, fast-acting therapeutics for treatment-resistant depression and other neuropsychiatric disorders
   
• First-in-class, non-addictive, non-hallucinogenic molecules with a non-synaptic target, differentiated from existing drugs such as ketamine
   
• Elkedonia, a new startup company launched by Argobio, attracts venture capital funding from a European syndicate of leading Life Sciences investors
   
• Elkedonia integrates research from Sorbonne University and industry experts from Argobio
   
• Delphine Charvin, transitioning from her role as Argobio Operating Partner, appointed as Elkedonia CEO 

Strasbourg, France and Charleroi, Belgium, June 11th  2025 - Elkedonia SAS, a company pioneering a novel neuroplastogen approach to develop therapeutic agents to treat depression and other neuropsychiatric condition, announced today that it has closed an oversubscribed EUR 11.25 million Seed funding round. The round was co-led by Kurma Partners, WE Life Sciences and the French Tech Seed fund managed on behalf of the French government by Bpifrance as part of France 2030, with participation from Argobio, Angelini Ventures, CARMA Fund, Capital Grand Est and Sambrinvest. Elkedonia is bringing together stakeholders from across the European ecosystem, with headquarters in Strasbourg, France and an affiliate in Charleroi, Belgium.

Elkedonia was founded by Argobio, an international startup studio whose mission is to launch and support translational research projects with disruptive therapeutic potential. The company leverages the translational research led by Dr Jocelyne Caboche, PhD, Director of Research at the National Center for Scientific Research (CNRS) at Sorbonne University. This research focuses on a novel intracellular target, Elk1, which plays a pivotal role in reward brain circuits and neuroplasticity – key mechanisms that are altered in conditions such as depression, post-traumatic stress disorder (PTSD) and addiction, making the conditions chronic instead of transient.

Trauma, chronic stress, substance abuse and other factors can contribute to major depressive disorders and anhedonia (the inability to experience pleasure), driven by an impaired neuroplasticity. This disruption in the brain’s ability to adapt leads to a breakdown in its normal functioning.  Elkedonia is developing a neuroplastogen, to restore neuroplasticity without the side effects of psychedelics or ketamine derivatives. Supporting evidence from preclinical and clinical studies suggest that Elk1 inhibition is a therapeutic lever in depression, with rapid efficacy, and devoid of sedation, dependence, hallucinations or other side effects commonly associated with existing anti-depressant treatments.

“I am thrilled to welcome our founding seed investors and thank my colleagues at Argobio for their support in creating Elkedonia. The novelty of our neuroplastogen approach offers a strong value proposition supported by groundbreaking neuroscience research. We are positioned to make a significant impact on the treatment of major depressive disorders, bringing relief to all patients, including young people, adolescents and the elderly,” said Delphine Charvin, Chief Executive Officer and Co-Founder of Elkedonia, previously Operating Partner at Argobio. “In addition, our development of biomarkers will allow us to pursue a precision medicine for patient selection and treatment efficacy monitoring.”

“Major depressive disorder is a large market of 300 million people globally that remains poorly addressed, with roughly one third of patients resistant to currently available treatments,” said Thierry Laugel, Chairman of the Management Board of Argobio and Managing Partner at Kurma Partners. “Elkedonia serves as a first proof of concept for Argobio where we are extremely proud to have identified this opportunity to benefit human health and to have provided industry competencies to accelerate and de-risk product development. Furthermore, this seed investment co-led by our team at Kurma Partners is both an exciting opportunity for Kurma Biofund IV and builds on our overarching strategy of supporting creation of globally competitive companies across Europe.”

“Investing in Elkedonia demonstrates WE Life Sciences' commitment to advancing the best cutting-edge innovations through collaboration with top-tier European life sciences investors,” said Valentin Tonnel, Investment Director at WE Life Sciences. “We are proud to support the realization of this promising innovation from Argobio, while fostering its growth in Wallonia, Belgium, a region increasingly recognized for its excellence in health and biotechnology.” 

“Bpifrance, as a founding investor of Argobio, is delighted to support the seed round of this promising new venture,” said Jean-François Morin, Investment Director Life Sciences at Bpifrance. “We are thrilled to develop the foundational research that comes from CNRS at Sorbonne University. This investment underscores our commitment to advancing mental health solutions, which is currently a priority for France.”

Proceeds from the Seed financing will go toward identification and optimization of drug-like small molecule inhibitors of Elk1. Part of the financing will be directed toward biomarker research and validation efforts, supporting a precision-based therapeutic strategy.

Major Depressive Disorder (MDD) is a fast growing and devastating health crisis, despite widely marketed anti-depressant therapeutics. Affecting around 25 million individuals in the United States, same numbers in Europe, and 300 million people worldwide, MDD is highly linked to a risk of suicide, that is the third leading cause of death among 15-29 year-olds. One third of patients affected by MDD do not respond to existing treatments, leading to the growing issue of treatment-resistant depression (TRD). This highlights the urgent need for innovative, effective and well tolerated solutions to address the unmet needs of those still suffering from this debilitating condition.

Elkedonia (www.elkedonia.com) is a Franco-Belgian start-up company dedicated to transforming the treatment of mental health disorders. Elkedonia is introducing a first-in-class antidepressant approach that leverages precision medicine. The lead discovery program targets the inhibition of the intracellular Elk1 protein to address the needs of treatment-resistant depression (TRD).