SHANGHAI--(BUSINESS WIRE)--SciNeuro Pharmaceuticals (www.scineuro.com), focused on developing innovative medicines for patients with central nervous system (CNS) diseases, today announced its launch and a $100 million Series A financing, co-led by Lilly Asia Ventures Fund and Arch Venture Partners. They were joined by Boyu Capital, General Atlantic, Sequoia Capital China, TF Capital and Zoo Capital. The funding is being used to build and advance a CNS product portfolio with initial focus on the Greater China region.
“One in every six people in China is living with a CNS condition, yet there are relatively few effective treatments available today, underscoring the urgent need to develop and deliver novel, effective therapies. The impact of CNS diseases extends beyond patients – to their families and society as well,” said Min Li, Ph.D., Founder and Chief Executive Officer of SciNeuro. “I am humbled by the shared commitment from our investors. With their support, we are committed to addressing this substantial need by establishing a strong and innovative CNS product portfolio, and providing new and improved treatment options to patients in China and around the world.”
SciNeuro is targeting key CNS diseases for which there is major unmet need, and for which scientific progress may be translated into new and effective treatments. Through both internal R&D and strategic partnerships, SciNeuro is establishing a robust and differentiated pipeline to become a leading company focusing on CNS diseases.
The SciNeuro leadership team includes established industry leaders, neuroscientists and clinicians, with a significant track record in the discovery and development of novel medicines for CNS diseases:
- Min Li, PhD., Founder and CEO – Renowned neuroscientist and former professor at Johns Hopkins Medicine. Has served as Senior Vice President and Global Head of Neurosciences R&D at GlaxoSmithKline, and as a Venture Partner at Lilly Asia Ventures.
- Qiuqing Ang, MD, PhD., Chief Medical Officer – Brings a combination of 10 years of physician experience treating CNS diseases in China and more than 15 years of leadership positions at Eli Lilly, Pfizer and GSK for CNS clinical development. Formerly Chief Scientific Officer at Klus Pharma, she has led multiple China and global clinical development programs through registration to approval.
- Danny Chen, PhD., SVP & Head of Translational Science – Formerly an Executive Director at Pfizer Neuroscience R&D; has led multiple first-time-in-human and early clinical development programs addressing CNS diseases.
- Paul Stead, PhD, MBA., Chief Business Officer – Brings more than 15 years of business development leadership and transactional experience within biotech (Adaptimmune Therapeutics, Inovio Pharmaceuticals, Nimbus Therapeutics) and large pharma (GlaxoSmithKline).
SciNeuro’s Board of Directors includes Judith Li and Yi Shi of Lilly Asia Ventures, Robert Nelsen of Arch Ventures and Min Li.
About SciNeuro Pharmaceuticals
SciNeuro Pharmaceuticals (“SciNeuro Pharma”) is building a leading neuromedicine company to elevate the standard of care for patients in China and around the world. Located in the major life sciences hubs of Shanghai and Philadelphia, SciNeuro is establishing a robust CNS product pipeline through internal innovation and global partnerships. To learn more, visit www.scineuro.com