EVANSTON, Ill., May 10, 2016 /PRNewswire/ -- Aptinyx Inc., a biopharmaceutical company developing novel modulators of the N-methyl-D-aspartate (NMDA) receptor for the treatment of challenging neurological disorders, today announced the completion of a $65 million Series A financing. The funds will support initial clinical studies for Aptinyx's lead drug candidate and discovery of additional small-molecule modulators of the NMDA receptor.
The financing was led by New Leaf Venture Partners and included additional new investors Frazier Healthcare Partners, Longitude Capital, and Osage University Partners. Existing investors, which provided seed capital when Aptinyx was spun out of Naurex last year, also participated in the round and include Adams Street Partners, LVP Life Science Ventures, PathoCapital, Goudy Park Capital, Beecken Petty O'Keefe & Company, and Northwestern University.
Concurrent with the financing, Aptinyx added three members to its board of directors: Liam Ratcliffe, M.D., Ph.D., managing director of New Leaf Venture Partners; James Topper, M.D., Ph.D., managing general partner of Frazier Healthcare Partners; and Patrick Enright, founder and managing director of Longitude Capital.
"Broad recognition of the potential of our proven technology and team made this a highly sought-after investment opportunity, and we are pleased to have garnered the support of such high-quality and experienced investors," said Norbert Riedel, Ph.D., president and chief executive officer of Aptinyx. "The proceeds from this financing will fuel our discovery engine and allow us to conduct multiple clinical studies to evaluate the therapeutic properties of our promising compounds."
Aptinyx has completed IND-enabling studies of the first clinical candidate from its proprietary chemistry platform for discovery of small-molecule, orally bioavailable NMDA receptor modulators. The company expects to initiate Phase 1 studies in mid-2016.
"The Aptinyx team has a remarkable track record of advancing novel compounds that modulate the NMDA receptor through a unique mechanism, and we are eager to support the company's discovery and development of differentiated therapies in the field of neuroscience," said Dr. Ratcliffe.
Aptinyx's compounds are designed to enhance synaptic plasticity — or strengthen the network for neural cell communication — a clinically validated mechanism with therapeutic potential across multiple nervous system conditions.
Aptinyx Inc. is a biopharmaceutical company focused on discovery and development of transformative therapies for challenging neurological disorders. Aptinyx has a proven platform for discovering compounds that enhance synaptic plasticity, or strengthen the network for neural cell communication. Molecules discovered by Aptinyx achieve this through a novel mechanism that modulates NMDA receptors, resulting in drugs that are both highly effective and well tolerated. This mechanism has applicability across a number of disorders of the brain and nervous system. For more information, visit www.aptinyx.com.
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SOURCE Aptinyx Inc.