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news.Marinus Pharmaceuticals, a specialty pharmaceutical company, has closed a $20 million series B financing. The funding comes on the heels of the company's recent announcement of positive Phase IIa data for ganaxolone as an adjunctive therapy in adults with partial onset seizures.
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The series B financing included participation from all of Marinus’s existing investors, including Canaan Partners, Domain Associates, Sofinnova Ventures and Foundation Medical Partners.
The funding will advance the company’s ganaxolone development program for use as a novel adjunctive agent for the treatment of refractory partial seizures and to explore proof of concept studies in psychiatric indications. Marinus Pharmaceuticals has raised a total of $50 million in private financing to date.
John Krayacich, president and CEO of Marinus, said: “We’ve made tremendous strides since our series A financing, with the completion of two Phase IIa clinical trials for ganaxolone in two separate indications, significant patent applications to protect our intellectual property, and advances on formulations which resulted in novel IP and a strong commercial candidate.”