Emalex Biosciences, a developer of treatments for central nervous system disorders, has closed its upsized and oversubscribed $250 million series D funding round that looks to fund a phase 3 clinical trial and commercialization of a new class of drug for patients with Tourette Syndrome.
Emalex Biosciences was created by Paragon Biosciences in 2018 to develop novel treatments for central nervous system disorders. Emalex’s phase 3 clinical trial for its investigational drug ecopipam, a dopamine-1 receptor antagonist, is expected to enroll more than 220 patients in approximately 90 sites. Bain Capital Life Sciences led the funding round with participation from Paragon Biosciences, Valor Equity Partners, Fidelity Management & Research Co., and several family offices.
“Emalex was founded specifically to tackle serious neurological conditions like Tourette Syndrome, recognizing that drug development for neurologic conditions is exceptionally difficult and few companies are willing to invest in bringing new options to these patients,” comments Jeff Aronin, Emalex founder and Paragon Biosciences CEO. “Our team has a strong track record of success developing neurology drugs and we are pleased to partner with our investors to advance ecopipam for patients.”