Biopharmaceutical company NeuroTherapeutics Pharma (NTP) secured $12m of a planned $47.5m funding round on 20th December. The financing follows a $43m series B round that closed in May last year and takes the total raised by NTP to $63m.
The investors in the present round are yet to be officially named but signatories including representatives of healthcare corporate venturing units Novo Ventures (a unit belonging to Novo), Pfizer Ventures (Pfizer) and SR One (GlaxoSmithKline), as well as private equity firm MPM Capital, venture capital firm Thomas, McNerney & Partners, and Fidelity Biosciences, which acts as the venture capital division of financial services firm Fidelity Investments. All are prior investors.
Prior to the series B round, NTP had previously raised $3.2m in debt financing, in January 2009, following a $5m equity investment in December 2006 shortly after its inception.
Founded in the US in 2006, NTP is developing a pipeline of compounds to counter nervous system disorders, with a focus on neuropathic, inflammatory and acute pain, and epilepsy. NTP’s compounds, which work on specific areas of the brain at times when neurones become excited to abnormal extents, could potentially lead to a new type of therapy for neurologic disorders.