Neurotherapia announced the closing of its Series A financing for $8.8M. The Series A round was led by Brain Trust Accelerator Fund II and included investments from The Cleveland Clinic Foundation, Dolby Family Ventures and Alzheimer’s Drug Discovery Foundation. The funding will be used to advance NeuroTherapia’s orally available cannabinoid receptor agonist, NTRX-07, through phase 1 studies for neuroinflammation, as well as conduct a number of preclinical studies.
“We are extremely fortunate to have this tremendous group of venture capitalists working with us,” said Tony Giordano, Ph.D., NeuroTherapia’s President and CEO. “Their expertise in developing molecules for brain disorders is greatly appreciated and I look forward to working with them in advancing NTRX-07 and our emerging pipeline of products.”
NTRX-07 is a small orally-available molecule that targets receptors that are known to be increased in diseases including Alzheimer’s disease (AD), ALS, MS and chronic pain syndromes. In various animal models of AD, NTRX-07 restored normal function of the microglia (key immune cells in the brain), which in turn decreased microglial-induced inflammation, reduced levels of the Alzheimer’s associated Ab peptide in the brain, and substantially improved neuronal synaptic plasticity, learning, and memory.
“We were particularly attracted to this novel strategy for inhibiting neuroinflammation,” commented John Reher, managing director of Brain Trust and lead investor in this financing. “We believe that inhibiting neuroinflammation may be beneficial not only for treating neurodegenerative diseases but could also be an important strategy for treating other brain disorders such as glioblastoma.”