US-based biopharmaceutical company Naurex closed an $80m series C round yesterday featuring backers including pharmaceutical firms Baxter, Takeda, and Lundbeck, the first two investing through their corporate venturing units.
Cowen Investments, EcoR1 Capital, Goudy Park Capital, Portola Capital Partners and Sabby Capital took part in the round as new investors, while returning backers included Adams Street Partners, Druid BioVentures, Genesys Capital, Latterell Venture Partners, Northwestern University, PathoCapital and Savitr Capital.
Naurex is working on therapies for central nervous system (CNS) disorders. The funding will support clinical trials for two compounds it is developing to treat major depressive disorder.
The company has now raised approximately $135m in debt and equity funding since it was formed in 2006, including an additional $25m in May this year.
Norbert Riedel, CEO of Naurex, said: “With the proceeds from this financing, we can advance our ongoing applications of this promising technology. This includes supporting our highly differentiated clinical programs in depression and bringing new treatments forward that address other diseases and disorders of the CNS.”