Accera launches Neuera Pharmaceuticals

The new company will focus on the discovery and development of proprietary small molecule drugs for acute and chronic neurological conditions where the mechanism of defective energy metabolism or hypometabolism is involved.

Neuera Pharmaceuticals will operate as a wholly owned subsidiary and will be spun out of Accera as a stand-alone company after the completion of a $12 million series A financing round. Existing Accera investors have already committed to participate in the capital raise.

Some of Accera’s management and staff will join the newly formed company, and the current small molecule pipeline at Accera including the preclinical compounds, AC-0523 and AC-8632, have been transferred to Neuera. In addition to in-house development of small molecules, Neuera Pharmaceuticals is actively pursuing the license or acquisition of late clinical-stage products for central nervous system diseases or conditions that complement the hypometabolism platform, said Accera.

In March 2009, Accera launched Axona, a medical food product for the clinical dietary management of the metabolic processes associated with mild-to-moderate Alzheimer’s disease. Axona is a prescription-only product for use under physician supervision. By spinning off the drug development products into a new entity, Accera will focus on building the Axona brand in the marketplace.

Steve Orndorff, founder and CEO of Accera, said: “The division of our pipeline and Axona product between two organizations allows each one to concentrate on the unique regulatory requirements for their respective class of products. Each company will be a regulatory and market pure play that is better appreciated by investors and the industry. Furthermore, we believe the success of Axona in the marketplace will provide a real world validation of the energy metabolism platform for Neuera Pharmaceuticals’s pipeline development.”