Sage Therapeutics, a Cambridge, MA-based biopharmaceutical company developing novel medicines to treat central nervous system (CNS) diseases, raised $20m in Series B financing.
Backers included ARCH Venture Partners and Third Rock Ventures. In conjunction with the financing, Robert Nelsen, co-founder and managing director of ARCH Ventures, will join Sage’s board of directors.
The company also announced today the expansion of its Series A financing, which was completed in September, from $35m to $37.8m. The round was led by Third Rock with the addition of ARCH as a new investor.
Sage, which has now raised $57.8m since launch in 2011, will use the funds to accelerate clinical and preclinical efforts to continue to advance its pipeline programs in CNS disorders.
Led by Jeffrey Jonas, M.D., chief executive officer, the company develops therapies to treat CNS specialty and orphan diseases. Its initial pipeline includes programs in status epilepticus, anesthesia, Fragile X Syndrome and traumatic brain injury.