FFBW Joins NeuroTherapia Series B Financing, Adam Hoffman Joins Board as Observer
The Foundation for A Better World (FFBW) recently participated in NeuroTherapia’s $12.3M Series B Fundraising Round. NeuroTherapia is a clinical-stage biotechnology company developing novel therapeutics to treat neuroinflammation in various central nervous system conditions, such as Alzheimer’s disease (AD), Parkinson’s disease, ALS and more.
The Series B Round, led by The Cleveland Clinic, featured all previous investors: The Brain Trust Accelerator Fund II, Dolby Family Ventures and the Alzheimer’s Drug Discovery Foundation. The FFBW and CRUINT joined as new investors.
The fundraise will support a Phase 2a trial of NeuroTherapia’s lead clinical-asset NTRX-07, which is an orally-administered cannabinoid receptor agonist for the treatment of AD. In addition to the Phase 2a trial, the funding will be used to complete a pre-clinical study of NTRX-07’s ability to limit amyloid-related imaging abnormalities (ARIA), a side effect associated with the newly FDA-approved monoclonal antibodies for treatment of AD. Through its mechanism of action, NTRX-07 may reduce or prevent this side effect. If the preclinical trial signals efficacy, NTRX-07 could then be used in further trials to test this combination and deliver increased benefit to patients.
Coinciding with the financing round, the FFBW’s President, Adam Hoffman, has joined NeuroTherapia’s Board of Directors as an Observer.
With this investment, the FFBW continues its mission to support crucial work seeking to treat and cure neurodegenerative diseases.
