Neumora Therapeutics Announces $112 Million Series B Financing

Neumora Therapeutics Announces $112 Million Series B Financing

Neumora Therapeutics Announces $112 Million Series B Financing

Today, Neumora Therapeutics, Inc., a clinical-stage biotechnology company that has pioneered the merging of data science and neuroscience to develop precision therapeutics for brain illnesses, announced the closing of a $112 million Series B funding. Altitude Life Science Ventures, Amgen, ARCH Venture Partners, Exor Ventures, F-Prime Capital, Invus, Mubadala Capital, Newpath Partners, Polaris Partners, and other unidentified investors are among the new and current investors in the Series B syndicate. The money will help improve the company’s precision neuroscience platform as well as a large clinical and preclinical pipeline of cutting-edge precision medicine prospects for neuropsychiatric disorders and neurodegenerative illnesses.

This Series B financing reflects Neumora’s continued progress in building a best-in-class neuroscience company, including assembling a world-class team, scaling up industry-leading data science and translational neuroscience platform, and advancing a broad and growing pipeline of seven development programs, including our internal discovery efforts and business development activities. This considerable amount of progress in such a short period of time reflects our urgency to address the relative lack of progress and innovation in neuroscience with our data-driven, precision medicine approach.”

Paul L. Berns, co-founder, chairman, and chief executive officer of Neumora

A variety of neglected neuropsychiatric illnesses and neurodegenerative diseases are the focus of the extensive and expanding pipeline of clinical and preclinical studies that Neumora is advancing. These programs include a balance of new and clinically proven treatments. For its most advanced product candidate, NMRA-140, a kappa opioid receptor antagonist being developed for the treatment of the major depressive disorder, the business recently finished enrollment in a Phase 2a clinical study. NMRA-266, an M4 muscarinic receptor-positive allosteric modulator, is being advanced toward the beginning of Phase 1 development for schizophrenia in 2023. Neumora is also advancing NMRA-511, a clinical-stage vasopressin 1a receptor antagonist in development for neuropsychiatric diseases. Numerous first-in-class prospects in preclinical development are part of the company’s earlier-stage pipeline, including neurodegenerative initiatives targeted at Parkinson’s disease and amyotrophic lateral sclerosis (ALS).

Joshua Pinto, Ph.D., the chief financial officer of Neumora, stated, “We are happy to have the backing of this prominent group of both new and old investors that share our vision and enthusiasm with our success to date. We have successfully acquired $650 million in cash via this Series B fundraising, putting us in a very strong financial position to advance our extensive pipeline through a number of near-term value-creating milestones.

In order to possibly increase the success rates of clinical development, Neumora was established to usher in a new age of precision neuroscience drugs. The business’s innovative method overcomes the heterogeneity seen in brain illness by utilizing current developments in data science and translational neuroscience. By approaching patient enrichment and clinical development strategies through this lens, Neumora seeks to match the appropriate patient populations to the appropriate targeted therapeutics, spurring innovation and the potential for clinical development success in this area and, in the end, providing patients with better therapies.

Alaa Halawa, partner and head of U.S. Ventures at Mubadala Capital, joined Neumora’s board of directors in conjunction with the conclusion of the Series B fundraising. In advancing Neumora’s efforts to become the precision neuroscience firm of the future, Mr. Halawa remarked, “We are happy to cooperate with Neumora. We are honored to be a part of their journey as they combine technology, namely AI/ML, with proprietary clinical data to better understand the complex causes of brain disease and create innovative therapies for neuropsychiatric disorders and neurodegenerative diseases.

About Neumora

Precision medications for brain illnesses are being developed by the clinical-stage biotechnology business Neumora Therapeutics, Inc. through the fusion of data science and neuroscience. With a data-driven precision neuroscience platform to cut through the variability of brain diseases and match the appropriate patient groups to tailored treatments, Neumora is revolutionizing neuroscience research and development. Neumora is unwavering in its dedication to finding, creating, and promoting focused treatments for patients with brain illnesses.

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