Neurosterix launches with $63 million in series A funding

The biopharmaceutical firm Neurosterix launched with $63 million in series A financing. Its lead drug candidate is a positive allosteric modulator of muscarinic receptors for the treatment of schizophrenia, which differs from muscarinic agonists further along in development. The company has acquired an allosteric modulator discovery technology from Addex Pharmaceuticals, which allows it to discover and test possible drugs. Tim Dyer, the CEO of Neurosterix, says phase 1 trials for its lead molecule are expected to begin in the second half of 2025.