Neurodawn Pharmaceutical Co., Ltd, a central nervous system (CNS) drug developer based in Nanjing, has announced the completion of a Series A+ financing round in excess of RMB 100 million (USD 14.73 million). The round was led by China Merchants Health, with existing investor Simcere Pharmaceutical Group (HKG: 2096) participating. The proceeds will be used to accelerate core clinical pipeline development, marketing filing, platform construction, and the development of global partnerships.
Use of Proceeds
The funds raised will be directed towards ramping up the development of Neurodawn’s core clinical pipeline, including the advancement of marketing filings and the construction of a robust development platform. Additionally, the company plans to expand its global partnerships to enhance its market reach and collaborative opportunities.
Company Background and Product Pipeline
Founded in 2020, Neurodawn Pharma has a product pipeline consisting of seven new drug candidates. Among them, Category 1 product Y-3, a PSD-95/nNOS uncoupling agent, has obtained clinical trial approval in China for the improvement of neurological symptoms, activities of daily living, and dysfunction caused by acute ischemic stroke (AIS). This approval highlights the potential of Y-3 to address significant unmet medical needs in the treatment of AIS.
Clinical Study Milestones
In addition, a Phase III clinical study for Simcere’s edaravone, borneol sublingual tablets, co-developed by Neurodawn, reached the pre-set efficacy endpoint in December 2022, as reported by Fineline Info & Tech. This achievement underscores the company’s commitment to advancing innovative treatments for CNS disorders and improving patient outcomes.-Fineline Info & Tech
