Huperzine, sourced from a naturally occurring botanical extract, is used as a treatment for memory loss and other disorders.
The company also licensed key patents from Harvard University for the use of Huperzine as a treatment for epilepsy and other indications.
Insero Health founder and CEO David Kolb said Huperzine has been proven to show benefits in a number of preclinical epilepsy models.
"With our initial round of financing in hand and key technology licenses secured, we are eager to move Huperzine into a Phase I/II trial in epilepsy later this year,” Kolb added.
The company has also closed an initial $1.1m financing round with The Reich Group, an investment firm based in Miami Beach, Florida, US.
Following closure of transaction, Samuel Reich, managing partner of The Reich Group will be joining Insero as Chairman of the Board of Directors and Warren Lammert, chairman and co-founder of the Epilepsy Therapy Project will be joining as Director.