Drugs Medical Pharma

Neumora Therapeutics raises $112 million in series B to fund neuro disorder research

neuro disorders

HQ Team

October 13, 2022: Neumora Therapeutics, a biotech company specialising in precision medicines for brain diseases, has raised $112m in a Series B financing round to expand its pipeline of neuro medicines for neuropsychiatric disorders and neurodegenerative diseases.

The company will use the funds to develop a precision neuroscience platform. Neumora has raised over $650m in capital to date.

Neumora candidate pipeline

The company recently finished working on a Phase IIa clinical trial of NMRA-140 for developing a kappa opioid receptor antagonist to treat depressive disorders. Neumora completed the 204-patient phase IIa trial of the candidate in adults with major depressive disorder and symptoms of anhedonia, the inability to feel pleasure in normally pleasurable activities, over the summer. 

Neumora plans to advance to Phase 1 clinical-stage trials for treatments of schizophrenia. In February, the biotech struck a deal with Vanderbilt University to secure global rights to an M4 muscarinic receptor-positive allosteric modulator program. 

Neumora co-founder, chairman and CEO Paul Berns said: “This Series B financing reflects Neumora’s continued progress in building a best-in-class neuroscience company, including assembling a world-class team, scaling up an industry-leading data science and translational neuroscience platform, and advancing a broad and growing pipeline of seven development programs, including our internal discovery efforts and business development activities.

“This considerable amount of progress in such a short period of time reflects our urgency to address the relative lack of progress and innovation in neuroscience with our data-driven, precision medicine approach.”

The company’s earlier-stage pipeline includes several preclinical candidates focused on Parkinson’s disease and amyotrophic lateral sclerosis (ALS).

Neumora investors

A year ago, Neumora raised a mighty $500 million. Arch Venture Partners led the series A funding. New and existing investors include F-Prime Capital, Altitude Life Science Ventures, Mubadala Capital, Amgen, Exor Ventures, ARCH Venture Partners, Invus, Abu Dhabi Growth Fund (ADG), Newpath Partners, Polaris Partners, as well as other undisclosed investors.

Leave a Reply

Your email address will not be published. Required fields are marked *