Vedana debuts with $46m to progress migraine therapies

Vedana Therapeutics has raised $46 million in Series A financing led by Canaan Partners and Westlake BioPartners. The Seattle-based biotech is developing next-generation migraine prevention therapies targeting PACAP inhibition instead of the traditional CGRP approach. According to CEO Anurag Agarwal, two-thirds of patients do not achieve optimal disease control with existing CGRP therapies. Vedana is developing a long-acting anti-PACAP antibody and a bispecific antibody targeting both PACAP and CGRP. The global migraine treatment market is estimated at $9.2 billion in 2023 and is projected to reach $16.4 billion by 2033 across seven major markets.