Grin Therapeutics, Inc., a NYC-based leader in the development of therapies to treat serious neurodevelopmental disorders, closed a $140m Series D financing.
This included a $65m strategic equity investment from Angelini Pharma and $75m from existing investor Blackstone Life Sciences.
Led by Bruce Leuchter, MD, President & CEO of Neurvati Neurosciences and Grin Therapeutics is advancing Radiprodil, a targeted, selective, and potent negative allosteric modulator of the GluN2B subunit of the N-methyl-D-aspartate (NMDA) receptor. It has received multiple regulatory designations, including Breakthrough Therapy designation from the U.S. Food and Drug Administration (FDA) for the treatment of seizures associated with GRIN-NDD with gain-of-function (GoF) variants. Additionally, radiprodil has been granted FDA Orphan Drug designation, rare pediatric disease designation, European Medicines Agency (EMA) Priority Medicines (PRIME) designation, and a positive opinion for orphan designation from the EMA Committee for Medicinal Products for Human Use (CHMP) for the treatment of GRIN-NDD.
The company remains on track to initiate a global, pivotal Phase 3 clinical trial for radiprodil in GRIN-NDD in the third quarter of 2025. Additionally, an ongoing open-label Phase 1b/2a study, known as the Astroscape trial, is evaluating radiprodil in patients with tuberous sclerosis complex (TSC) and focal cortical dysplasia (FCD) type II.
Grin Therapeutics also announced a collaboration with Angelini Pharma, part of the privately owned Angelini Industries, for the development and commercial rights outside of North America of GRIN Therapeutic’s investigational drug radiprodil, currently being studied in multiple rare genetic epilepsies and neurodevelopmental disorders.
In addition, Jacopo Andreose, PhD, CEO of Angelini Pharma, will join the company’s Board of Directors.
Under the terms of the agreement, Grin Therapeutics will continue to lead global development and retain exclusive rights for radiprodil in the United States, Canada, and Mexico. Angelini Pharma will receive exclusive rights to commercialize radiprodil in the rest of the world. GRIN Therapeutics will receive an upfront payment of $50 million, and the parties will share certain clinical development costs for radiprodil. Additionally, the company may receive up to an additional $520 million based on achieving certain development, regulatory and sales milestones. Grin Therapeutics is also eligible to receive tiered royalties based on global sales as well as payments from any future sublicense transactions outside of Europe.
FinSMEs
28/05/2025