Neurosterix closed a $105 million Series B to finance the next stage of testing for its experimental schizophrenia pill, Addex Therapeutics announced November 11. The funding will go mainly toward planned Phase 2 development of NTX-253, after the Addex spinout completed Phase 1 studies.
NTX-253 is an oral drug designed to boost signaling through the brain’s muscarinic M4 receptor. Addex describes reduced movement and metabolic side effects, compared with medicines that block dopamine receptors, as potential benefits of the approach.
In its October 8 update, Addex said the Phase 1 program included healthy volunteers and people with stable schizophrenia and assessed safety and how the drug moves through the body. It did not report whether the drug improved schizophrenia symptoms.
The new round is larger than the $65 million Series A that Addex described in its October update. Neurosterix began in April 2024 with Addex’s discovery platform, preclinical programs and associated research staff.
Addex did not invest in the Series B. Its holding now stands at 8.5%, down from the 20% it disclosed in October, and it values the remaining stake at $18.6 million.