Neuraltus pharma raises $17 Million in first round

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Bangalore: Neuraltus Pharmaceuticals, a privately held pharmaceutical company developing small molecule drugs for neurodegenerative diseases, said Thursday it completed a first round of funding with $17 million. Menlo Park-based Neuraltus said investors included Latterell Venture Partners of San Francisco, VantagePoint Venture Partners of San Bruno and Adams Street Partners of Chicago. James Woody of Latterell, Annette Bianchi of VantagePoint and Terry Gould of Adams Street will join the Neuraltus board. Neuraltus was founded in 2005 by Dr. Michael McGrath, Professor of Laboratory Medicine at the University of California, San Francisco; Dr. Edgar Engleman Professor of Medicine and Pathology at Stanford University School of Medicine and Ari Azhir. Neuraltus has a number of compounds in the pipeline, including a drug to treat amyotropic lateral sclerosis, also known as Lou Gehrig's disease, a drug that will reduce dyskinesia (jerky involuntary movement) in patients suffering from Parkinson's disease, and a drug for the treatment of Gaucher's disease. Neuraltus said the funding will let it conduct phase I and phase II clinical trials for each of these disorders.
Source: IANS