Neurelis announced that it has raised $114 million in a Series D preferred stock financing to fund commercialization of Valtoco diazepam nasal spray, which was approved by the FDA for the treatment of seizure clusters or acute repetitive seizures in epilepsy patients aged 6 years and older in January 2020. Neurelis launched Valtoco in the US in March 2020.
The company said that funds will also be used for development of products in its pipeline, which includes nasal sprays for the treatment of panic attacks, status epilepticus, and agitation associated with psychiatric disorders such as schizophrenia or bipolar mania. Neurelis is also planning to submit an sNDA for Valtoco to expand its use to patients aged 2-5.
Neurelis President and CEO Craig C. Chambliss commented, “We are excited about the immediate and long-term future at Neurelis. We have been able to assemble an impressive leadership team with extensive experience in neurology that has enabled Valtoco clinical development, regulatory success, and commercial launch in 2020. Valtoco has become a trusted brand to people with epilepsy. This new financing helps us build on a successful foundation as we advance Neurelis as a best-in-class neuroscience company focused on epilepsy. We are grateful to our exceptional investors and look forward to bringing more innovative, life-changing products to the patients who need them.”
Read the Neurelis press release.
