Neurosterix raised US$105 million in a Series B round led by RTW Investments. The clinical-stage biotechnology company develops selective allosteric modulators for neuropsychiatric disorders. New and existing investors joined the financing, and the company also announced three leadership appointments.
Funding and leadership
New investors included Janus Henderson Investors, GV, Ikarian Capital, Affinity Asset Advisors, and Dellora Investments. Existing investors Perceptive Advisors and Acorn Bioventures also participated. Andrew Miller became Executive Chair, Edmund Harrigan joined the board, and Stephen Brannan became Chair of the Clinical Advisory Board.
Company context
Neurosterix works on allosteric modulators that adjust neural signaling pathways implicated in neuropsychiatric conditions. The company operates in Boston and Geneva. Its intellectual property includes more than 100 patent filings, over 80,000 compounds, and more than 200 CNS-relevant functional assays.
Lead program
The proceeds will mainly support NTX-253, a selective muscarinic M4 positive allosteric modulator, in Phase 2 development for schizophrenia. 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 plans to advance NTX-253 into Phase 2 testing. The new capital will also support additional pipeline programs. Those include NTX-819 for mood and anxiety disorders and NTX-529 for additional psychosis-related disorders.