BioSpace Collaborative

Academic/Biomedical Research
News & Jobs
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

PROFILES
Company Profiles

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Research Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
Get Our Industry eNewsletter FREE email:    
   

Morrisville Startup Neuronex Lands Series A Funding at $1.5 Million


10/6/2010 7:57:32 AM

Triangle Business Journal - by Frank Vinluan -- Startup drug development company Neuronex has raised $1.5 million in a series A round of funding, the Morrisville-based company announced Wednesday.

Neuronex is led by management team of Durham company Addrenex Pharmaceuticals, which was sold to Sciele Pharma last year for $29 million.

Moise A. Khayrallah, one of the co-founders and former CEO of Addrenex, is reprising those roles with Neuronex.v Another former Addrenex exec, Stephen Butts, is Neuronex’s executive vice president of commercial operations. He says Neuronex will focus on developing products for the central nervous system. Neuronex has licensed one compound for epilepsy that is expected to go into clinical trials later this month. Butts said the company is also in talks with several other entities about licensing additional compounds.

The investors in Neuronex are the same angel investors who backed Addrenex. The company also has received a $250,000 small business research loan from the North Carolina Biotechnology Center. Butts said Neuronex could be in a position to seek additional capital in the second half of next year, depending on how the company’s portfolio develops.

Neuronex currently employs five.



 
 

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES
 

//-->