Chase Therapeutics Raises $20M in Series B Financing

Chase Therapeutics Corporation, a Washington, DC based clinical stage pharmaceutical company, completed a milestone-based $20M Series B financing.

The round was led by Chinalink Asia Holdings of Hong Kong. In conjunction with the funding, Javier Romero, Chairman and CEO of Chinalink, will join the Board of Directors. This new round builds on the earlier financings from Brain Trust Accelerator Fund II of Burlingame, CA, and the Rise of the Rest Fund and Makana Holdings of Washington, DC.

The company intends to use the funds to support Phase 3 pivotal trials for CTC-501 for the treatment of Major Depressive Disorder (MDD) and CTC-413 for the treatment of Parkinson’s Disease (PD) as well as completion of the development and validation of a diagnostic product for Parkinson’s Disease.

Led by Thomas Chase, SD, MD, President and Chief Executive Officer, Chase Therapeutics has pioneered the discovery and development of needed pharmaceuticals for brain disease. The company focuses on the rapid translation of therapeutic breakthroughs in neurosciences research that may help prevent and potentially cure central nervous system dysfunction. Lead drugs in its pipeline:

  • include CTC-413 for the palliative and neuroprotective treatment of Parkinson’s Disease and
  • CTC-501 for Major Depressive Disorder.

Both drugs, along with a companion diagnostic for Parkinson’s disease, are now entering Phase 3 development. Chase Therapeutics stands committed to improving the lives of all those afflicted by neuropsychiatric disease.