PROVIDENCE, RI, Mnemosyne Pharmaceuticals, a Providence-based neuroscience biotechnology company, has landed a $250,000 investment from the state-backed Slater Technology Fund.

Mnemosyne Pharmaceuticals, Inc. is a start-up biotech company based in Providence, RI that is developing an innovative new class of drugs, the Subunit Selective NMDA Receptor Modulators (SNRMs), for the $60B neuropsychiatry market.

Mnemosyne is building a capital efficient research platform that will rely on collaborative partnerships with service providers to support drug discovery and development. In addition, strategic partnerships with pharmaceutical and biotech companies will provide research support as well as opportunities for later stage clinical development and commercialization.

Mnemosyne was launched with seed funding from the Slater Technology Fund. The founders are pharmaceutical and biotech industry scientists and executives who possess over 70 years of experience in research and management. Mnemosyne's founding scientists pioneered early pharmaceutical R&D targeting the N-Methyl-D-Aspartate (NMDA) receptor. The company is also supported by a group of scientific advisors who are thought leaders in the field of neuropsychiatry, with experience ranging from early stage drug discovery to translational pharmacology and clinical development.