BioCentury
ARTICLE | Finance

A one-two punch

How topped up B round will take Naurex depression product into Phase III

May 12, 2014 7:00 AM UTC

Naurex Inc.'s recently completed series B round gives the neurology play runway to at least one more value-creating event - Phase IIa data this year for its oral NMDA receptor modulator in major depressive disorder. Those results, combined with last week's positive Phase IIb data for its first-generation IV compound, could give the company leverage in its next financing or partnering talks.

Last week, Naurex raised $25 million from existing investors in the third and final close of the series B, bringing the total raised in the round to $63 million. Baxter Ventures; Savitr Capital; Adams Street Partners; Latterell Venture Partners; Genesys Capital; PathoCapital; Druid Bioventures, Northwestern University; and other private investors participated in the close...