Sunday, 04 December 2022

China-based startup NeuShen Therapeutics raises $20 M

30 September 2022 | News

Dual internal discovery platforms of small molecule and AAV-based gene therapy targeting neurological and psychiatric disorders

Image credit: shutterstock

Image credit: shutterstock

China's NeuShen Therapeutics has announced the closure of ~$20 million Series pre-A financing led by LAPAM, a China based venture capital. NeuShen was founded by a group of industrial executives who have extensive global experiences in central nervous system (CNS) drug development. The new capital will be used to expand the team and catalyze in-house CNS drug discovery in both the US and China.

CNS disorders are increasingly recognized as major causes of death and disability worldwide while the diagnosis and treatments have largely lagged. Urgent measures are needed to tackle the growing challenges.

"The successful completion of this fundraising is a testimony to our team's ability to accomplish CNS drug development and jump starts our discovery engine to build a pipeline with AAV-based gene therapy and small molecule programs," said Joan Shen, M.D., Ph.D., chief executive officer and founder of NeuShen. "CNS disease is an area with huge unmet needs. Our company has had a very clear goal from Day 1, which is to develop novel therapies to relieve the burdens of patients with CNS disorders. In the past few months, we have developed an achievable R&D strategy and built-up a substantial core team with experienced CNS drug hunters. Significant progress has been made in building the internal small molecule pipeline and new AAV gene therapy programs. In addition, multiple collaborations and partnerships have been discussed and established."


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