Pipeline Therapeutics, a biopharmaceutical company focused on the development and commercialization of first-in-class small molecules for neuroregeneration, today announced the closing of an $80 million Series C financing.

The oversubscribed financing was led by a healthcare-focused new investor, with participation by other new investors including Perceptive Advisors, Franklin Templeton, Casdin Capital, Samsara BioCapital, Suvretta Capital, Red Tree Venture Capital, and an undisclosed leading global investment fund. All of the company's existing shareholders, including founding investor Versant Ventures, Sectoral Asset Management and Cleva Pharma (a Brace Pharma affiliate), participated in the round.

Pipeline Therapeutics is a biopharmaceutical company focused on the development and commercialization of first-in-class small molecules for neuroregeneration, including synaptogenesis, remyelination and axonal repair. The company's lead clinical program, PIPE-505, is currently enrolling patients in a phase 1/2a study to treat sensorineural hearing loss (SNHL) associated with speech-in-noise disability. The company has also initiated a Phase 1 healthy volunteer study for its second clinical program, PIPE-307, targeting multiple sclerosis. In addition, Pipeline has a portfolio of further programs addressing a range of neurological disorders and conditions. For more information, please visit www.pipelinetherapeutics.com.