Neurosterix, a Geneva, Switzerland-based company focused on developing allosteric modulators for the treatment of underserved neurological disorders, raised $63M in initial funding.
The round was led by Perceptive Xontogeny Venture Fund II, with participation from Perceptive Life Sciences Fund and Acorn Bioventures.
Neurosterix will acquire a portfolio of preclinical assets and the allosteric modulator drug discovery technology platform from Addex and accelerate their development. In return, Addex will receive CHF5M and a 20% equity interest in Neurosterix. Addex will retain its partnerships with Janssen Pharmaceuticals, Inc. and Indivior PLC, as well as unpartnered clinical stage assets including dipraglurant for Parkinson’s disease and post-stroke/TBI recovery as well as its preclinical GABAB positive allosteric modulator (PAM) program for chronic cough.
Neurosterix is a biopharmaceutical company focused on developing allosteric modulators for the treatment of neurological disorders. Its drug discovery and development platform identifies and develops allosteric modulators — molecules that increase or decrease the activity of target receptors by binding outside of the “active site” where endogenous ligands and traditional drugs operate. Through this platform, its novel drug candidates have the potential to provide medicines with improved efficacy, safety and tolerability for patient communities suffering from underserved neurological disorders.
To guide the launch of Neurosterix, Tim Dyer, in addition to his role at Addex, will assume the role of CEO of the company.
FinSMEs
04/04/2024