NeuroDerm Ltd., a Weizmann Science Park, Rehovot, Israel-based clinical stage pharmaceutical company developing drugs for central nervous system (CNS) diseases, raised $16m in financing.
The round was led by existing investors and new investors including The Elias Group.
The company plans to use the funding to further the clinical and regulatory development of its product pipeline, primarily its continuous delivery Parkinson’s disease (PD) levodopa products.
Led by Oded Lieberman, PhD, CEO, NeuroDerm has product candidates including ND0612H, a high-dose form of liquid levodopa/carbidopa (LD/CD) for patients suffering from severe PD delivered continuously through subcutaneous administration by a belt pump, and ND0612L, a low dose form for moderate stage patients delivered through a similar belt pumpdevice. Both product candidates are designed to reduce motor complications in Parkinson’s disease by maintaining steady, therapeutic levodopa plasma levels replacing, in severe patients, current treatments that require invasive surgery associated with serious side effects.
ND0612L is currently undergoing a Phase II double-blind, randomized, placebo-controlled study supported by a grant from The Michael J. Fox Foundation for Parkinson’s Research.