Neurotech completes $35 million round of series B financing

By Lisa Kerner

Charlotte, N.C., Nov. 16 - Neurotech Pharmaceuticals, Inc. said it closed a $35 million round of series B private equity financing.

Proceeds will be used to obtain primary efficacy results for three phase 2 studies of Neurotech's lead product, NT-501, and its proprietary Encapsulated Cell Technology in atrophic macular degeneration as well as early- and late-stage retinitis pigmentosa.

Burrill and Co. led the financing round, joined by Versant Ventures, SV Life Sciences, Omega Fund, Nexus Medical Partners, Pound Capital and existing investors Apax Partners France, Merlin Biosciences, Atlas Venture, Mayflower, Avida Group and Alpha Associates.

Bryant E. Fong of Burrill and Co., William J. Link of Versant Ventures and Lutz Giebel of SV Life Sciences will join Neurotech's board of directors.

Neurotech is a privately held biotechnology company based in Lincoln, R.I., that develops therapeutics for chronic retinal diseases.

Issuer:	Neurotech Pharmaceuticals, Inc.
Issue:	Series B private equity financing
Amount:	$35 million
Investors:	Burrill and Co. (lead), Versant Ventures, SV Life Sciences, Omega Fund, Nexus Medical Partners, Pound Capital, Apax Partners France, Merlin Biosciences, Atlas Venture, Mayflower, Avida Group and Alpha Associates
Announcement date:	Nov. 16

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