Promentis Pharmaceuticals, Inc., a Milwaukee, WI-based specialty pharmaceutical company developing novel compounds for schizophrenia, Parkinson’s disease and pediatric disorders including autism, raised nearly $3m in Series B financing.
The round was led by Black Horse Investments GmbH, with participation from the Golden Angels Investors network and other private investors.
The company intends to use the funds to secure investigational new drug (IND) status for two of its lead compounds and advance these programs into human clinical testing over the next 24 months.
Founded in 2007 by Chad Beyer, Ph.D., M.B.A., president and CEO, Promentis focuses on developing compounds aimed at modifying brain chemistry for the treatment of schizophrenia and other central nervous system (CNS) disorders. Support for its drug discovery and development programs, in part, has been provided by recent grants from the National Institute of Mental Health (NIMH) and the Michael J. Fox Foundation.