BioCentury
ARTICLE | Financial News

Neuroscience newco BlackThorn raises $40M

October 20, 2016 7:00 AM UTC

Neurobehavioral newco BlackThorn Therapeutics Inc. (South San Francisco, Calif.) raised $40 million in a series A round led by Arch Venture Partners. The Johnson & Johnson Innovation-JJDC venture arm of Johnson & Johnson (NYSE:JNJ), Altitude Life Science Ventures, Mercury Fund and Alexandria Real Estate Equities also participated, as did an undisclosed crossover fund.

BlackThorn's lead program, opioid related nociceptin receptor 1 ( OPRL1; NOPR) antagonist BTRX-246040 (formerly LY-2940094), is due to enter Phase II testing next year for mood disorders. The start-up obtained exclusive, worldwide rights to the asset from Eli Lilly and Co. (NYSE:LLY) this year after the pharma shuttered its neuroscience program. ...