Pain Research Attracts Financing

MaRS tenant NeurAxon Inc. — a developer of next-generation pain therapeutics — has closed a $32 million Series B financing round with blue-chip life science investors, Delphi Ventures and OrbiMed Advisors.

Also participating in the round were Series A investors, BDC Venture Capital, Genesys Capital Partners, H.I.G. Ventures, NeuroVentures Fund, Ventures West Capital Ltd. and new investor Dr. Lawrence E. Bloch, CEO of NeurAxon.

“This round of investment sends a strong signal about the potential of NeurAxon as a key player in the biotech sector,” noted MaRS CEO Dr. Ilse Treurnicht.

NeurAxon’s lead candidate drug is designed to provide migraine relief through a dual mechanism of action.

“We are encouraged by the early indications that this approach may provide significant improvements over current migraine treatments,” Dr. Deepa Pakianathan, general partner of Delphi Ventures, said when the deal was announced in late summer 2007.

“This is especially meaningful in a disorder with a current market opportunity of over $3 billion, while present treatments provide relief only to a minority of patients.”

A MaRS tenant since 2005, NeurAxon is a leader in discovering and developing next-generation pain therapeutics targeting neuronal nitric oxide synthase (nNOS), an enzyme involved in modulating pain and central nervous system neuronal sensitization.

To read more, visit www.nrxn.com

• Email Page
• Print Page
• Increase Font
• Decrease Font

MaRS FACTS

MaRS provides advisory services to entrepreneurs – from market intelligence and financing, to partnership building, sales and PR advice – through its team of Venture Group advisors.

MaRS BLOG

• Today’s Pick: Evolution under the microscope
• One man’s garbage is another man’s gold…
• Environment or Nanotech?

See more articles