Grin Therapeutics Closes $140M Series D Financing
Summary
Grin Therapeutics, Inc., a NYC-based leader in the development of therapies to treat serious neurodevelopmental disorders, closed a $140m Series D financing. Led by Bruce Leuchter, MD, President & CEO of Neurvati Neurosciences and Grin Therapeutics is advancing Radiprodil, a targeted, selective, and potent negative allosteric modulator of the GluN2B subunit of the N-methyl-D-aspartate (NMDA) receptor. Additionally, an ongoing open-label Phase 1b/2a study, known as the Astroscape trial, is evaluating radiprodil in patients with tuberous sclerosis complex (TSC) and focal cortical dysplasia (FCD) type II. Under the terms of the agreement, Grin Therapeutics will continue to lead global development and retain exclusive rights for radiprodil in the United States, Canada, and Mexico. Grin Therapeutics is also eligible to receive tiered royalties based on global sales as well as payments from any future sublicense transactions outside of Europe.