San Francisco Business Times by Ron Leuty, Reporter
Neuraltus Pharmaceuticals Inc., the Palo Alto developer of an experimental treatment for Lou Gehrig’s disease, has raised $9.6 million toward an $11.1 million offering, the company said Tuesday in a Securities and Exchange Commission filing.
Seven investors have ponied up for the round in the form of equity, option/warrants and preferred stock with warrants.
Neuraltus’ board includes John Walker — who has been chief executive of several Bay Area biotech companies, most recently iPierian Inc. — and OncoMed Pharmaceuticals founder and chairman Dr. Jim Woody.
Neuraltus’ drug, called NP-001, could treat or, possibly, reverse some effects of amyotrophic lateral sclerosis, also known as ALS or Lou Gehrig’s disease. The drug is in a Phase II trial, but this summer Nuvo Research AG filed a lawsuit that said privately held Neuraltus is using research controlled by Nuvo.
