Neurosterix closed a US$105 million Series B financing round led by RTW Investments. The clinical-stage biotech develops selective allosteric modulators for neuropsychiatric disorders. New and existing investors joined the round.
Funding details
The funding will primarily support Phase 2 clinical development of NTX-253 for schizophrenia. It will also back the company's broader pipeline of allosteric modulators for neuropsychiatric disorders. Participants included Janus Henderson Investors, GV, Ikarian Capital, Affinity Asset Advisors, Dellora Investments, Perceptive Advisors, and Acorn Bioventures.
Leadership additions
Neurosterix appointed Andrew Miller as executive chair of the board. Edmund Harrigan joined as an independent director, and Stephen Brannan became chair of the clinical advisory board. All three previously held senior roles at Karuna Therapeutics.
Lead program
NTX-253 is a highly selective muscarinic M4 positive allosteric modulator. Neurosterix has completed Phase 1 single- and multiple-ascending-dose studies of the drug. Data showed a pharmacokinetic profile supportive of once-daily oral dosing.
Neurosterix is also advancing NTX-819 for mood and anxiety disorders. It is developing NTX-529 as a second M4 PAM for additional psychosis- and mood-related disorders. The company has operations in Boston and Geneva.