Schroders Capital invests in Neurona Therapeutics to advance neural cell therapies
In a significant development for the life sciences sector, Schroders Capital Global Innovation Trust plc has announced a strategic investment of $1.6 million (£1.3 million) in Neurona Therapeutics, a leading US-based clinical-stage cell therapy company. This investment was part of Neurona’s Series E financing round, which successfully raised $120 million. The round was co-led by Viking Global Investors and Cormorant Asset Management, with substantial contributions from a mix of new and returning investors, including The Column Group, Passaic Capital Management, Lyfe Capital, and several others.
Neurona Therapeutics stands at the forefront of discovering and developing allogeneic neural cell therapies aimed at treating chronic diseases of the nervous system. The proceeds from this latest financing round are earmarked for advancing the company’s robust pipeline of off-the-shelf cell therapies across multiple indications. Among these, its lead investigational candidate, NRTX-1001, shows promising potential. NRTX-1001 is currently undergoing an open-label, single-arm Phase I/II clinical trial targeting drug-resistant mesial temporal lobe epilepsy (MTLE), with further applications being explored for Alzheimer’s disease.
Neurona Therapeutics Raises $120 Million in Series E Funding for Cell Therapy Innovations
In a significant update from December 2023, Neurona reported that NRTX-1001 has been well tolerated in all initial subjects. Remarkably, the first two subjects have reported a >95% reduction in overall average monthly seizure counts one year post-treatment. Alongside NRTX-1001, Neurona is also developing three additional cell therapies at the preclinical stage, targeting a range of chronic neurological disorders.
Tim Creed, Lead Portfolio Manager, and Harry Raikes, Co-Portfolio Manager at Schroders Capital, expressed their enthusiasm for the investment, noting Neurona’s potential to significantly impact the treatment of chronic neurological disorders. They highlighted the strength of the initial clinical data and Neurona’s role as a complementary addition to the Company’s portfolio, focusing on innovative life science companies at the near-clinical or clinical development stage.
The strategic investment by Schroders Capital in Neurona Therapeutics underscores the growing interest and potential in neural cell therapies as a revolutionary approach to treating neurological disorders. With a robust pipeline and encouraging clinical results, Neurona is well-positioned to address the unmet needs in this challenging medical field, supported by a strong consortium of investors committed to advancing healthcare innovation.