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HomeFunding CA-based Neurona Therapeutics Secures $120Million in Funding

[Funding alert] CA-based Neurona Therapeutics Secures $120Million in Funding

CA-based Neurona Therapeutics secures $120million in funding. This round was co-led by Viking Global Investors and Cormorant Asset Management with participation from new and existing investors.

CA-based Neurona Therapeutics secures $120million in funding. This round was co-led by Viking Global Investors and Cormorant Asset Management with participation from new and existing investors.

Including The Column Group, LYFE Capital, Schroders Capital, Willett Advisors, Ysios Capital Partners, Euclidean Capital, SymBiosis, Alexandria Venture Investments, Berkeley Frontier Fund, Sphera Biotech Master Fund LP, Spur Capital Partners, UCB Ventures, and UC Investments.

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Proceeds from the financing will be used to advance the company’s pipeline of wholly-owned, off-the-shelf cell therapies for multiple indications, including its lead investigational candidate, NRTX-1001.

NRTX-1001 is being evaluated in an ongoing open-label, single-arm Phase I/II clinical trial for treatment of drug-resistant mesial temporal lobe epilepsy (MTLE) and has potential application in Alzheimer’s disease and other disorders of the nervous system.

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Raymond Kelleher, M.D., Ph.D., managing director of Cormorant and a neurologist at Massachusetts General Hospital, Harvard Medical School, who will be joining the Neurona Board of Directors said, We are excited to co-lead this financing with Viking and other committed investors to help advance Neurona’s cell therapies to address unmet needs in chronic neurological disorders, Neurona has pioneered development of a fully-differentiated cell therapy for drug-resistant focal epilepsy that is designed to be disease-modifying, repairing the affected neural network, and is yielding very promising initial clinical data. As a neurologist, I am particularly encouraged by the data generated thus far, suggesting that NRTX-1001 has the potential to provide seizure control and preserve neurocognitive function, which would be a game-changer for the field.”

Cory R. Nicholas, Ph.D., Neurona’s chief executive officer and co-founder said, “This financing is a testament to the hard work and dedication of the Neurona team, commitment of our collaborators, and encouraging preliminary data from the first patients in the ongoing clinical trial of NRTX-1001 cell therapy, We are grateful for the significant investment from this reputable syndicate of new and existing investors. It signifies the conviction that Neurona’s cell therapies have the potential to transform the treatment of previously refractory, devastating neurological disorders. This funding will support ongoing and planned clinical studies of NRTX-1001 for drug-resistant epilepsies and Alzheimer’s disease, as well as the advancement of our other cell therapy candidates towards the clinic for additional neurological indications.”

Data from the first cohort of five subjects in Neurona’s ongoing clinical trial of NRTX-1001 were presented in December 2023 at the Annual Meeting of the American Epilepsy Society.

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The five subjects entered the study with a history of seizure activity that was not controlled by anti-seizure medications. These subjects received a one-time administration of NRTX-1001 as well as temporary immunosuppression to promote the long-term persistence of the cell therapy.

About Neurona Therapeutics

Neurona is focused on developing regenerative cell therapy candidates with single-dose curative potential. Neurona’s investigational allogeneic, off-the-shelf, cell therapy candidates are designed to provide long-term repair of dysfunctional neural networks for multiple neurological disorders.

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