Naurex raises $18M to develop novel NMDA modulator in depression
This article was originally published in Scrip
Executive Summary
The start-up Naurex Inc has raised $18 million in a Series A financing to advance its CNS disorder candidates based on a new mechanism of action for modulating the NMDA receptor. It says that its lead clinical-stage candidate, GLYX-13, shows promise to achieve the well documented efficacy of known NMDA receptor modulating agents (like ketamine) for treatment-resistant depression, but without their limiting side effects. Notably, the round of venture backers includes both venture capital firms and pharma companies.