Thursday, March 26, 2009

Neuraltus Pharmaceuticals Finds $17M

Menlo Park-based Neuraltus Pharmaceuticals, which is developing small molecule drugs for treating neurodegenerative diseases, said this morning that it has raised $17M in a Series A financing round. According to the firm, the funding came from Latterell Venture Partners, VantagePoint Venture Partners, and Adams Street Partners. Neuraltus said that Dr. James Woody of Latterrell, VantagePoint's Annette Bianchi, and Adams Street's Terry Gould have all joined the board along with the funding. The firm is developing treatments for Lou Gehrig's Disease (ALS), Parkinson's, and Gaucher's Disease; the funding will go towards Phase I and Phase II clinical trials. More information »