Neurana Pharmaceuticals, Inc., a San Diego, CA-based specialty pharmaceutical company focused on the treatment of neuromuscular conditions, completed a $60m Series A financing.
The round was led by Sofinnova Ventures with participation from New Leaf Venture Partners, H.I.G. BioHealth Partners, Longitude Capital and MagnaSci Ventures. In conjunction with the financing, David Kabakoff, Ph.D. of Sofinnova Ventures, Dan Becker, M.D., Ph.D. of New Leaf Venture Partners, Alex Zisson of H.I.G. BioHealth Partners, and Josh Richardson, M.D. of Longitude Capital, joined David Hale and Brian Dorsey on the board of directors.
The company intends to use the funds to further develop tolperisone.
Led by David F. Hale, Chairman and Interim President & CEO, Neurana Pharmaceuticals is advancing Tolperisone, a novel, patented skeletal muscle relaxant for the treatment of acute, painful muscle spasms and spasticity without sedation. Tolperisone is approved and used in Europe and Asia for the treatment of neuromuscular conditions and has not been available in the U.S. due to an impurity that was higher than ICH Guidelines.
Neurana, which has an exclusive license from Sanochemia AG to develop and commercialize a patented composition of tolperisone which meets ICH Guidelines in North America, plans to commence a Phase 2 dose ranging clinical trial later this year to further demonstrate the safety and efficacy of tolperisone in subjects with acute, painful neuromuscular spasms of the neck and back.