SAGE Therapeutics, a Cambridge, MA-based biopharmaceutical company developing novel medicines to treat specialty, critical and orphan central nervous system (CNS) disorders, completed a $38m Series C financing.
Backers included OrbiMed Advisors, LLC, EcoR1 Capital Management, Foresite Capital Management and two undisclosed blue chip public investment funds. They joined existing investors Third Rock Ventures and ARCH Venture Partners.
The company intends to use the funds to advance its clinical and preclinical programs in orphan and acute CNS disorders, including status epilepticus. Based on promising preclinical and clinical data, SAGE has opened enrollment for a Phase 1/2 clinical trial of SAGE-547 for the treatment of super refractory status epilepticus (SRSE), a life-threatening seizure condition for which there are no approved therapies.
SAGE-547 is the lead program in a potential portfolio of seizure medicines and will be followed by intravenous and oral compounds designed to treat patients with earlier-stage seizure disorders, as well as other CNS disorders.
SAGE Therapeutics is led by Jeffrey Jonas, M.D., chief executive officer.
16/10/2013: Sage Therapeutics Raises $20m in Series B Financing
18/10/2011: SAGE Therapeutics Raises $35M in Series A Funding