Neurosterix raises $105M Series B to take an oral M4 PAM into Phase 2 for schizophrenia
- Addex spinout Neurosterix closed a $105M Series B led by RTW Investments, with GV and Janus Henderson participating; Addex holds an 8.5% stake.
- The funds mainly support Phase 2 development of NTX-253, an oral M4 positive allosteric modulator, after early-stage testing.
- Former Karuna executives, including Andrew Miller as executive chair, are joining the board and advisory structure.
💡 Points Based on public reports
The round bets that the M4 mechanism survives the setbacks around it: Cobenfy’s launch has been slower than hoped and AbbVie’s M4 PAM emraclidine failed two mid-stage trials, ending in large impairments. An allosteric modulator is a bet that selectivity buys better tolerability than an orthosteric agonist, but emraclidine shows the biology is not automatic. Phase 2 efficacy in a placebo-heavy schizophrenia population is the real test; the Karuna pedigree buys credibility, not data.
📰 Source · BioSpace ↗ Neurosterix nabs $105M, recruits Karuna veterans for schizophrenia push