Mnemosyne Pharmaceuticals, Inc. got $6.0 million as expansion financing after the latest round of Series A financing. This amount would be used to fund Mnemosyne's efforts at drug discovery for treatment of schizophrenia and Rett Syndrome.
This latest round of Series A financing included one existing investor and one new investor, namely Atlas Venture and Clal Biotechnology Industries (CBI), respectively. A partner at Atlas, Dr. Peter Barrett, and CBI's Dr. William Koster would be joining the Board of Directors at Mnemosyne.
Both Atlas and CBI are delighted to have partnered with Mnemosyne in its search for treatments of neuropsychiatric disorders. CIA CEO, Ruben Krupik, specifically said, "Mnemosyne's insight into the dynamics of neuroreceptor regulation coupled with its depth of expertise in drug discovery and development provide a compelling opportunity for our investors in the field of neuropsychiatry where there is significant unmet need for pharmacological intervention."
Meanwhile, Mnemosyne President and CEO, Kollol Pal was also looking forward to the new Board members' contributions and guidance.
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