With programs from Eisai and Hansoh Pharmaceutical in hand, Tortugas Neuroscience has emerged with hopes of delivering daily oral treatments to patients with central nervous system conditions.
Tortugas is embarking upon a new expedition, launching with $106 million and clinical assets from Eisai and Hansoh Pharmaceutical.
The cash will fuel Tortugas’ R&D efforts, including two midstage trials for small molecule programs with “derisked mechanisms of action” designed to be delivered orally once a day, according to a Tuesday release from the biotech.
The company’s clinical pipeline encompasses programs in schizophrenia, tinnitus, focal epilepsy, reversible encephalopathies and other central nervous system (CNS) conditions. The pipeline is in-licensed from Japanese pharma Eisai as well as China’s Hansoh Pharmaceutical, though Tortugas didn’t share specifics related to the assets or deal financials.
The newly unveiled Massachusetts biotech’s seed and series A rounds were both led by founding investor Cure Ventures, with The Column Group and AN Venture Partners joining in to co-lead the series A financing.
At Tortugas’ helm is Jeff Jonas, a partner at Cure Ventures with more than 20 years of biopharma and CNS experience, including a decade-long tenure at Sage Therapeutics.
“We believe each of our programs are well-positioned for differentiation in the marketplace,” Jonas said in a statement. “Tortugas curated its pipeline for innovative therapeutics that have high potential for clinical differentiation and of reaching their target patient markets.”
The CEO is joined by R&D head Al Robichaud, also of Cure Ventures and with experience at Sage under his belt.
The massive unmet need in neuropsychiatric conditions has prompted a slew of new biotech launches and CNS investment over the last few years. Big Pharma is also funneling money into the space, as evidenced by Johnson & Johnson’ $14.6 billion acquisition of Intra-Cellular Therapies last year, a buyout driven by Caplyta, the biotech’s forecasted blockbuster therapy for bipolar I and II depression, schizophrenia and major depressive disorder.
