NeuroTherapeutics Pharma, Inc., a Chicago, IL-based biopharmaceutical company focused on developing novel therapies for central nervous system (CNS) disorders, closed a $43m Series B financing.
The round was led by new investors Fidelity Biosciences, MPM Capital and SR One, with participation from Pfizer, Inc. and existing investors Novo Ventures and Thomas McNerney & Partners.
NTP is developing compounds that work through a specific mechanism of action. Compounds of this mechanism (among them the company’s lead molecule NTP-2014, have potential application across numerous diseases, including epilepsy, pain and other CNS indications.
The new capital will enable the company to advance NTP-2014 up to and through multiple proof-of-concept Phase II trials and further develop a pipeline to expand this new class of therapy.
In conjunction with the funding round, Luke Evnin, PhD, Managing Director at MPM Capital, and Elaine Jones, PhD, Executive Director at Pfizer Venture Investments, will join the company’s board of directors.