SR One leads investment in NeuroTherapeutics Pharma
SR One, the venture investment arm of pharmaceutical firm GlaxoSmithKline plc, has co-led a $43 million second-round, venture-capital financing of NeuroTherapeutics Pharma Inc.
Fidelity Biosciences, a Cambridge, Mass., division of Fidelity Investments, and MPM Capital, a Boston-based VC firm, co-led the round, according to NeuroTherapeutics Pharma, which announced the financing Thursday.
New York-based biopharmaceutical company Pfizer Inc. (NYSE:PFE) participated in the round, as did NeuroTherapeutics Pharma’s existing investors: Novo Ventures, a Danish venture fund that has its U.S. office in San Francisco; and Thomas McNerney & Partners, which has offices in Stamford, Conn.; Minneapolis and San Francisco.
NeuroTherapeutics Pharma says it is developing compounds that work by a method unlike the methods of any products on the market and have potential for treating epilepsy, pain and other central nervous system indications.
The company will use the money from the financing to advance its lead molecule through multiple proof-of-concept Phase II clinical trials and further develop a pipeline to expand its new types of compounds.
SR One is based in Conshohocken, Pa.
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