Neuro3d completes $42.9 million funding

The new funds will be used to continue the clinical development of Neuro3d’s broad pipeline of innovative drug candidates targeting psychiatric disorders such as schizophrenia, depression and anxiety, as well as to accelerate additional drug candidates into clinical trials.

The company’s drug portfolio includes ocaperidone in phase II trials for the treatment of schizophrenia, two new antidepressants with different mechanisms of actions in phase I trials and several drug candidates in research or pre-clinical development.

The financing is from a consortium of international investors, led by Gilde Investment Management’s Biotech fund and co-led by AXA Private Equity. Also participating in the round were new investors Healthcare Private Equity LP (Scottish Widows Investment Partnership) and GIMV, and returning investors, HealthCap, Techno Venture Management Partners (TVM), Sofinnova Partners and APAX Partners.

“We are delighted to have closed last December one of the largest private biotech financings in Europe in 2004,” noted Charles Woler, CEO of Neuro3d. “We have attracted some of the world’s leading life sciences investors to Neuro3d and now look forward to continuing the successful discovery and development of our innovative drugs for psychiatric disorders.”

“We are impressed by the progress that Neuro3d has made since the last financing, which has resulted in a strong pipeline of psychiatric drug candidates and one of the most advanced private biotech companies in Europe,” commented Marc-Oliver Perret, Director at Gilde Investment Management, who joined the Board of Directors of Neuro3d in conjunction with the financing. “With a first-class management team, we believe that Neuro3d has the fundamentals in place to rapidly move its innovative drug programs towards a $38 billion market.”