BlackThorn Therapeutics Secures $14 Million in Series A Extension Financing
New Investors GV (Google Ventures) and Biomatics Capital Join Syndicate; Lead Neurobehavioral Therapy Program Advancing into Phase 2 Development
South San Francisco, Calif. – January 5, 2017 – BlackThorn Therapeutics, a clinical stage biopharmaceutical company discovering and developing targeted treatments for neurobehavioral disorders, today announced that it has closed a $14 million extension of its Series A financing, joined by GV (formerly Google Ventures) and Biomatics Capital. The extension brings the total Series A financing to $54 million, and the new investors join a leading syndicate of sophisticated life science investors, including founding investor ARCH Venture Partners, Johnson & Johnson Innovation – JJDC, Inc., Mercury Fund, Alexandria Real Estate Equities and Altitude Life Science Ventures.
BlackThorn plans to use the additional funding to progress its lead clinical-stage asset, BTRX-246040, through Phase 2 clinical development, as well as to conduct additional exploratory pilot studies in targeted indications.
“We are delighted to welcome GV and Biomatics Capital to our investor team; both have approaches that are synergistic with our drug discovery and development platform,” said Mark Corrigan, M.D., executive chairman of BlackThorn. “We appreciate the substantial interest in and support for our deep portfolio of best-in-class small molecules to treat patients with neurobehavioral disorders.”
BlackThorn’s INFORM™ platform supports the discovery and development of targeted treatments by linking brain physiology to behavior using advanced functional imaging and objective assessment tools that quantify emotion and behavior. BTRX-246040, BlackThorn’s lead program, is a first-in-class antagonist of the nociceptin receptor (NOPR) and a target linked to multiple neurobehavioral disorders.
“Treatment options for people with neurobehavioral disorders are often imprecise and inadequate. BlackThorn is addressing these limitations by developing small molecules modulating targets expressed in key brain regions and regulating behaviors integral to multiple disorders,” said Blake Byers, general partner at GV. “With deep CNS expertise and the technology to advance its drug development pipeline, BlackThorn is well positioned to make a significant impact in the field of neurobehavioral therapeutics.”
About BlackThorn Therapeutics, Inc.
BlackThorn Therapeutics is a clinical-stage biopharmaceutical company dedicated to transforming the lives of people with neurobehavioral disorders through the discovery and development of novel, targeted treatments. BlackThorn is building a robust pipeline of first- and best-in-class treatments, and is redefining the industry approach to drug discovery and development through its INFORM™ platform, which links brain physiology and its relationship to behavior. With its network of collaborations with leading academic investigators, BlackThorn is developing and deploying a set of technologies that will enable focused, rapid, resource-efficient translational studies for drug development. The company is headquartered in South San Francisco, California. For more information, please visit http://www.blackthornrx.com/.
Julie Normart, BrewLife