Neurosterix Raises $105M in Series B Funding Led by RTW Investments

Neurosterix, a Boston, MA-based biotechnology company developing selective allosteric modulators for neuropsychiatric disorders, has raised $105 million in a Series B funding round.

The round was led by RTW Investments with participation from Janus Henderson Investors, GV, Ikarian Capital, Affinity Asset Advisors, Dellora Investments, Perceptive Advisors, and Acorn Bioventures.

The company will use the funding to advance its lead drug candidate, NTX-253, into Phase 2 clinical development for schizophrenia. The investment will also support research and development across its broader pipeline of selective allosteric modulators.

What is Neurosterix?

Neurosterix is a biotechnology company developing medicines for neuropsychiatric disorders including schizophrenia mood disorders and anxiety.

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The company focuses on selective allosteric modulators, which are designed to fine tune how receptors in the brain respond to signals. Instead of directly switching receptors on or off, these compound's adjust receptor activity. This approach aims to produce more precise effects, and potentially offer different treatment options.

Its lead drug candidate, NTX-253 is a positive allosteric modulator of the muscarinic M4 receptor. The M4 receptor is an established target for schizophrenia treatment. Neurosterix is developing NTX-253 as a potential antipsychotic medicine.

How Much Funding Has Neurosterix Raised?

Neurosterix has raised $105 million in its Series B funding round. The company has not disclosed its total funding raised across previous rounds.

Who Invested in Neurosterix’s Series B?

The $105 million Series B round was led by RTW Investments.

Other participating investors included:

• Janus Henderson Investors
• GV
• Ikarian Capital
• Affinity Asset Advisors
• Dellora Investments
• Perceptive Advisors
• Acorn Bioventures

Why the Funding Matters

The funding will primarily support the planned advancement of NTX-253 into Phase 2 clinical development for schizophrenia.

It will also help Neurosterix develop it's wider pipeline of selective allosteric modulators for other neuropsychiatric disorders. The company is working to identify compounds that can regulate brain signalling pathways linked to these conditions.

Who founded Neurosterix?

Neurosterix was founded in 2024 by Fred Callori. The company is headquartered in Boston, Massachusetts.

It combines medicinal chemistry and receptor pharmacology expertise with its own compound library and research capabilities to discover and develop new drug candidates.

“The clinical validation of muscarinic biology has created an important opportunity to develop the next generation of treatments for schizophrenia and other serious neuropsychiatric disorders,” said Fred Callori, Chief Executive Officer of Neurosterix. “We believe Neurosterix is entering a defining stage in its development with NTX-253, our selective M4 allosteric modulator, as we prepare to enter Phase 2 clinical development.

“Muscarinic therapies have opened an important new chapter in the treatment of schizophrenia as the first-ever non-dopamine-based treatments, which will bring multiple new treatment options for patients,” said Andrew Miller, Ph.D., Executive Chair of Neurosterix.

Market and Business Growth

Neurosterix has completed Phase 1 single- and multiple-ascending-dose clinical studies of NTX-253. The studies produced pharmacokinetic data that support the potential for once-daily oral dosing. The drug candidate will now move towards further clinical evaluation.

The company also has an intellectual property portfolio containing more than 100 patent filings. Its discovery platform includes a library of more than 80,000 compounds and over 200 central nervous system-related functional assays.

These resources support it's research into selective allosteric modulators targeting multiple areas of neuropsychiatric treatment.

What Happens Next?

Neurosterix plans to advance NTX-253 into Phase 2 clinical development for schizophrenia. It will also continue developing its broader pipeline of drug candidates for neuropsychiatric disorders.

The latest funding will support these clinical, and research programmes as the company works towards developing new treatment options.

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