Aptinyx raises $65m for neurological disorder drugs

New Leaf Venture Partners led the financing, which included new investors Frazier Healthcare Partners, Longitude Capital, and Osage University Partners.

Existing investors Adams Street Partners, LVP Life Science Ventures, PathoCapital, Goudy Park Capital, Beecken Petty O’Keefe & Company, and Northwestern University also participated in the round.

The funds will support initial clinical trials for Aptinyx’s lead drug candidate and discovery of further small-molecule modulators of the N-methyl-D-aspartate (NMDA) receptor.

Aptinyx president and CEO Norbert Riedel said: "Broad recognition of the potential of our proven technology and team made this a highly sought-after investment opportunity, and we are pleased to have garnered the support of such high-quality and experienced investors.

"The proceeds from this financing will fuel our discovery engine and allow us to conduct multiple clinical studies to evaluate the therapeutic properties of our promising compounds."

The company has completed IND-enabling trials of the first clinical candidate from its chemistry platform to discover small-molecule, orally bioavailable NMDA receptor modulators. It plans to start phase 1 studies in middle of this year.

Aptinyx was spun out of a predecessor firm, Naurex, after the company was acquired by Allergan in 2015 for $560m.

Allergan’s acquisition was focused on Naurex’s lead NMDA receptor modulators in clinical development as differentiated therapies for depression

Aptinyx’s compounds are designed to improve synaptic plasticity, a clinically validated mechanism with therapeutic potential across several nervous system conditions.

Image: Aptinyx raises $65m to advance therapies for neurological disorders. Photo: courtesy of renjith krishnan/FreeDigitalPhotos.net.