Summary:
- Grin Therapeutics, Inc. secured a $140 million Series D financing, with a significant investment from Angelini Pharma and Blackstone Life Sciences.
- The company is advancing Radiprodil, a promising treatment for neurodevelopmental disorders, with various regulatory designations.
- Grin Therapeutics also announced a collaboration with Angelini Pharma for the global development and commercial rights of Radiprodil.
Article:
Grin Therapeutics, Inc. Secures $140 Million in Series D Financing
Grin Therapeutics, Inc., a prominent player in the field of therapies for serious neurodevelopmental disorders, recently announced the successful closing of a $140 million Series D financing round. This funding round included a strategic equity investment of $65 million from Angelini Pharma and $75 million from existing investor Blackstone Life Sciences, highlighting the growing interest in the company’s innovative approach.
Advancing Radiprodil for Neurodevelopmental Disorders
Led by Bruce Leuchter, MD, President & CEO of Neurvati Neurosciences, Grin Therapeutics is making significant strides in the development of Radiprodil. Radiprodil is a targeted, selective, and potent negative allosteric modulator of the GluN2B subunit of the N-methyl-D-aspartate (NMDA) receptor. The drug has received several regulatory designations, including Breakthrough Therapy designation from the FDA for the treatment of seizures associated with GRIN-NDD with gain-of-function (GoF) variants. Additionally, Radiprodil has received FDA Orphan Drug designation, rare pediatric disease designation, European Medicines Agency (EMA) Priority Medicines (PRIME) designation, and a positive opinion for orphan designation from the EMA Committee for Medicinal Products for Human Use (CHMP) for the treatment of GRIN-NDD.
Future Plans and Collaborations
Grin Therapeutics is on track to initiate a global, pivotal Phase 3 clinical trial for Radiprodil in GRIN-NDD in the third quarter of 2025. The company is also conducting an ongoing open-label Phase 1b/2a study, known as the Astroscape trial, to evaluate Radiprodil in patients with tuberous sclerosis complex (TSC) and focal cortical dysplasia (FCD) type II. Additionally, Grin Therapeutics has announced a collaboration with Angelini Pharma for the development and commercial rights of Radiprodil outside of North America.
Under the terms of the agreement, Grin Therapeutics will retain exclusive rights for Radiprodil in the United States, Canada, and Mexico, while Angelini Pharma will have exclusive rights to commercialize the drug in the rest of the world. The collaboration includes an upfront payment of $50 million to Grin Therapeutics, with the potential to receive up to an additional $520 million based on achieving certain milestones. Furthermore, Grin Therapeutics stands to benefit from tiered royalties based on global sales and payments from future sublicense transactions outside of Europe.
In conclusion, Grin Therapeutics’ recent financing and collaboration with Angelini Pharma mark significant milestones in the development of Radiprodil for the treatment of neurodevelopmental disorders. With a strong focus on innovation and strategic partnerships, the company is poised to make a meaningful impact in the field of rare genetic epilepsies and neurodevelopmental disorders.
