Neurosterix raises $105 million to advance schizophrenia drug
Addex Therapeutics spinout Neurosterix secured $105 million in a Series B financing round led by RTW Investments. The company plans to use the funds to advance its oral M4-targeting candidate NTX-253 into mid-stage clinical trials for schizophrenia.
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Funding and Leadership
Neurosterix announced a $105 million Series B financing led by RTW Investments, with participation from GV and Janus Henderson Investors. The company also recruited three former Karuna Therapeutics leaders, appointing Andrew Miller as executive chair, Edmund Harrigan as an independent director, and Stephen Brannan as chair of the clinical advisory board.
Drug Development Strategy
The new capital will primarily fund mid-stage trials for NTX-253, an oral muscarinic M4 positive allosteric modulator designed to treat schizophrenia. The company aims to fine-tune brain signaling to reduce psychosis symptoms while avoiding the movement and metabolic side effects typical of traditional dopamine antagonists.
Market Context
The muscarinic receptor space has gained significant attention following Bristol Myers Squibb's approval of Cobenfy and its $14 billion acquisition of Karuna. Meanwhile, other competitors like AbbVie faced setbacks when their M4 candidate emraclidine failed mid-stage trials.
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