NeuroTherapia, a clinical-stage company and Cleveland Clinic Innovations portfolio company focused on developing therapies for neurodegenerative diseases, announced today the first closing of its Series B financing with $12.3M in funding. The Series B round, led by Cleveland Clinic, includes all previous investors, Brain Trust Accelerator Fund II, Dolby Family Ventures and the Alzheimer's Drug Discovery Foundation (ADDF) as well as new investors, Foundation for a Better World and CRUINT. NeuroTherapia is using this funding primarily for the continued clinical development of NTRX-07, an orally available cannabinoid receptor agonist, for the treatment of Alzheimer's disease (AD). The company will continue to raise additional funds for its second close in six months, which will enable development of a recently discovered second generation molecule for a separate indication in which neuroinflammation plays a major role.

NeuroTherapia is a clinical-stage, privately held biotechnology company developing oral, small-molecule drugs to address neuro-inflammatory conditions of the central nervous system (CNS), including Alzheimer's disease, Parkinson's disease, amyotrophic lateral sclerosis, and other CNS conditions. There is an emerging consensus that neuroinflammation plays a significant role in CNS disease. NeuroTherapia is developing therapeutics that inhibit microglia cells, which are known to express proteins that drive inflammation in the CNS, without affecting the clearance of toxic beta amyloid.