Prexa Pharmaceuticals, a Boston-based biotechnology company that develops therapies for central nervous system diseases and disorders, has completed a $7m Series B funding.
The round was led by Advent Healthcare Ventures, with participation from Shire Pharmaceuticals.
Founded in 2006 and led by Chairman and CEO Charles Cohen, Ph.D., who is also Partner at Advent Healthcare Ventures, Prexa is developing oral small molecule monoamine reuptake inhibitors that are designed to improve the safety and efficacy of current treatments for ADHD, depression and Parkinson’s disease.
The company plans to use the funds to complete IND-enabling studies for its lead product candidate PRX-12251.
Prexa, which previously raised $3.1m in Series A financing, has a product pipeline that includes mono and dual reuptake inhibitors targeted for partnerships with biotechnology and pharmaceutical companies.