Newron raises $26 Million to wrap up Phase II schizophrenia clinical trial

Newron Pharmaceuticals (SWX:NWRN) has tapped investors for CHF 26.1 million ($26.6 million) to see it through to data readouts on a couple of key pipeline programs. The funding extends Newron’s financial runway out beyond the completion of a Phase IIa schizophrenia trial and Phase II/III orphan CNS disease study.

With lead candidate Xadago on the market in parts of Europe and heading toward an FDA decision in the U.S., the focus at Newron is on a pair of follow-up programs. The more advanced of the two candidates is sarizotan, an agonist of serotonin receptor 5-HT1A Newron licensed from Merck KGaA.

Newron has penciled in a July 2017 finish for the 129-person trial. By then, Newron will know the outcome of its other clinical-stage bet, a Phase IIa trial of evenamide in schizophrenia patients. The trial is designed to show whether the sodium channel blocker is safe and can improve the suicide severity scores of patients with chronic schizophrenia. Newron expects to have data on the drug, which emerged from its own ion channel program, by the end of the year

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