Emalex Biosciences announced the closing of an upsized and oversubscribed $250 million Series D funding round that will fund a Phase 3 clinical trial and potential commercialization of a new class of drug for patients with Tourette Syndrome.

Bain Capital Life Sciences led the funding round with participation from Paragon Biosciences, Valor Equity Partners, Fidelity Management & Research Company and several family offices.

Emalex Biosciences was created by Paragon Biosciences to develop new treatments for central nervous system disorders. Emalex is in late-stage development of a new class of drug targeting the D1 receptor for patients with Tourette Syndrome and other conditions that have limited treatment options.