Exciva doses first patient in Phase 2/3 trial of Deraphan for agitation in Alzheimer’s disease and extends Series B round

SERENADA trial to run at up to 60 sites across US, UK, Canada and Europe, targeting 300 patients

Exciva brings Series B round to €53M, with Dolby Ventures joining investor pool, and strengthens management with appointment of seasoned COO

Heidelberg, Germany, April 28, 2026 – Exciva GmbH, a biopharmaceutical company developing novel therapeutic compounds for the treatment of neuropsychiatric conditions, today announces the dosing of the first patient at Esperanza Clinical in Murrieta, CA, USA, in the Phase 2/3 SERENADA trial to evaluate the safety and efficacy of Deraphan in the treatment of agitation in patients with Alzheimer’s disease (AD) dementia.

“We are proud to announce the dosing of the first patient in SERENADA. We are thankful to Dr. Michael Ropacki and the team at Esperanza Clinical for their role in supporting us in developing new treatment options for patients with AD dementia. With its promising therapeutic potential, it could pave the way to treating agitation in other neuropsychiatric disorders,” said François Conquet, CEO of Exciva. “We are equally delighted to welcome Dolby Ventures as a new investor. This growing support reflects the strong confidence in Exciva’s clinical strategy to treat the neuropsychiatric symptoms in AD.”

The behavioral and psychological symptoms of AD dementia can be severe and demanding on caregivers. These include agitation, aggression, sleep disorders, irritability, depression, anxiety and hallucinations. Currently, there are few treatment options available for agitation in patients with AD.

Exciva’s approach in avoiding the dopaminergic system offers the potential to treat agitation without increasing the risk of cognitive decline, morbidity or mortality. If proven effective, Deraphan could become a novel and valuable option in improving the quality of life for patients living with AD.

Deraphan is the combination of two clinically validated products: dextromethorphan, an NMDA receptor channel blocker, and Deramciclane, a triple-acting agent that is a CYP2D6 inhibitor and a 5-HT2A/2C receptor inverse agonist. This combination is designed to deliver a broad and synergistic treatment targeting various neuropsychiatric symptoms associated with dementia, including agitation. Exciva has previously completed a Phase 1 trial of Deraphan, demonstrating that the combination was safe and well-tolerated.

In parallel to the trial launch, Dolby Ventures joins as a new investor, bringing Exciva’s Series B round to a total of €53M ($62M).

“Exciva’s approach to targeting neuropsychiatric symptoms, in particular agitation in Alzheimer’s patients, addresses a critical unmet need in Alzheimer’s care,” said Reetika Bhardwaj, principal at Dolby Ventures. “Our investment in Exciva underscores our commitment to advancing therapeutic treatments in neurodegenerative diseases, which have profound societal and economic implications, and providing support for AD patients and carers worldwide.”

Dolby Family Ventures, based in San Francisco (CA), is an early-stage venture capital fund launched in 2014 to honor the legacy of Ray Dolby, philanthropist and founder of Dolby laboratories. It invests in startups specializing in frontier technology that tackle major problems in the life sciences, such as neurodegeneration.

Lastly, Exciva is thrilled to announce the appointment of Nadine Knowles as chief operating officer, further strengthening the executive team. Ms. Knowles brings over 30 years of experience in clinical leadership, with a strong track record of driving strategic initiatives and delivering complex global Phase 1-4 clinical trials and regulatory submissions across rare disease, oncology, CNS (Central Nervous Systems), and anti-infective programs during her time at Avanir (acquired by Otsuka) and Longboard (acquired by Lundbeck).

About the SERENADA Trial

The SERENADA trial (NCT07284472) will enroll approximately 100 patients per treatment arm, around 300 participants in total, at as many as 60 centers across the US, UK, Canada and Europe. Deraphan-treated patients will be compared to a placebo group in a six-week treatment course. The trial will observe behaviors such as restlessness, verbal outbursts, resistance to care or physical aggression as signs of agitation. The objective of the study is to demonstrate that Deraphan, compared to placebo, reduces agitation in AD patients.

Participants will be selected based on a diagnosis of agitation according to its consensus definition in patients with cognitive disorders as developed by the International Psychogeriatric Association (IPA) Agitation Definition Working Group, which must include excessive motor activity, verbal and/or physical aggression. In addition, participants will have a confirmed AD diagnosis proven by a blood biomarker test, such as a plasma-based p-Tau217 assay.

Exciva expects to report the outcome of the study in the first half of 2029.

About Exciva 

Exciva is a biopharmaceutical company founded in 2016 by Drs. Anton Bespalov, Hans Moebius and Rao Vepachedu to address neuropsychiatric symptoms in Alzheimer’s disease (AD) dementia and other brain disorders. Exciva uses its powerful discovery potential, which has already led to the combination of two CNS-active compounds, to treat agitation in patients living with AD dementia. Exciva is based in Heidelberg, Germany.

www.exciva.com