Newron Pharmaceuticals Raises EUR 30 Million

24-Feb-2005

Newron Pharmaceuticals SpA, a research and development company focused on novel CNS therapies, announced the raising of EUR 30 million (fully committed), out of which EUR 23 million closed already. The remaining EUR 7 million will remain open to additional interested parties for a few weeks. HBM Partners AG, on behalf of HBM BioCapital L.P. and HBM BioVentures (Cayman) Ltd., acted as lead investor. Existing investors, 3i Group, Apax Partners and Atlas Venture have all participated in the round.

Newron will use the proceeds of the financing primarily to further advance the worldwide Phase III development of Safinamide for Parkinson's disease as well as preparing to move the compound forward in other indications. In addition, the funds will be used to progress the development of the neuropathic pain project currently in phase II and the preclinical stage compounds through clinical trials.

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