By Jennifer Chiou
New York, Oct. 5 - Newron Pharmaceuticals SpA said it completed €30 million in series B financing.
HBM Partners AG led investors, which included TVM GmbH, 3i Group, Apax Partners and Atlas Venture.
The company obtained €7 million from TVM in the second closing, having raised €23 million earlier in 2005.
Proceeds from the financing will go towards advancing phase III clinical development of Safinamide for the treatment of Parkinson's disease and phase II development of Ralfinamide.
"With highly promising phase II data, Safinamide may also play a role in the treatment of restless leg syndrome," chief executive officer Luca Benatti said in a news release.
"Furthermore, the transaction provides us with the means to achieve clinical proof of concept for our blockbuster drug candidate, Ralfinamide, an innovative treatment for neuropathic pain that also has substantial potential in inflammatory pain."
Newron Pharmaceuticals also announced Alexandra Goll, general partner of TVM, joined its board.
Based in Bresso, Italy, Newron is a research and development company focused on diseases of the central nervous system, particularly Parkinson's disease and pain.
| Issuer: | Newron Pharmaceuticals SpA
|
| Issue: | Preferred stock
|
| Amount: | €30 million (€7 million in second closing)
|
| Round: | Series B
|
| Investors: | HBM Partners AG (lead), TVM GmbH, 3i Group, Apax Partners, Atlas Venture
|
| Announcement date: | Oct. 5
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
