Newron Pharmaceuticals Secures EUR 38 Million for Phase III Evenamide Program

Newron Pharmaceuticals has announced securing up to EUR 38 million to advance its Phase III Evenamide program, targeting treatment-resistant schizophrenia. This financing involves existing and new investors from Europe and Asia, aiming to fund the global ENIGMA-TRS studies and extend the company’s cash runway beyond the 12-week pivotal results.

The initial subscription involves up to 779,624 newly issued shares at EUR 19.24 each, generating up to EUR 15 million. Further proceeds of EUR 11 million and EUR 12 million depend on the progress of the ENIGMA-TRS studies and positive results, respectively. The new shares are anticipated to be listed on the SIX Swiss Exchange and other European exchanges.

Evenamide, a novel oral therapy, distinguishes itself with its mechanism of selectively blocking voltage-gated sodium channels, offering potential benefits for patients unresponsive to current antipsychotics.