NeuroTherapia, a Cleveland, OH-based clinical-stage company focused on developing therapies for neurodegenerative diseases, raised $12.3M in Series B funding.
The round was led by Cleveland Clinic, and included all previous investors, Brain Trust Accelerator Fund II, Dolby Family Ventures and the Alzheimer’s Drug Discovery Foundation (ADDF) as well as new investors, Foundation for a Better World and CRUINT.
Led by President and CEO Tony Giordano, NeuroTherapia is a clinical-stage biotechnology company developing oral, small-molecule drugs to address neuro-inflammatory conditions of the central nervous system (CNS), including Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis, and other CNS conditions. NeuroTherapia is developing therapeutics that inhibit microglia cells, which are known to express proteins that drive inflammation in the CNS, without affecting the clearance of toxic beta amyloid.
The company intends to use the funds for the continued clinical development of NTRX-07, an orally available cannabinoid receptor agonist, for the treatment of Alzheimer’s disease (AD).
NeuroTherapia will continue to raise additional funds for its second close in six months, which will enable development of a recently discovered second generation molecule for a separate indication in which neuroinflammation plays a major role.
FinSMEs
06/08/2024