Neurosterix lands $105M Series B for schizophrenia drug
What's the deal? Neurosterix has raised $105 million in a Series B to fund NTX-253, its lead schizophrenia candidate, and has recruited several figures behind Cobenfy, Bristol Myers Squibb's muscarinic antipsychotic. The Geneva-based biotech, a spin-out of Switzerland's Addex Therapeutics, announced the round in November.
What does it do? NTX-253 is an oral positive allosteric modulator of the muscarinic M4 receptor, designed to ease psychosis symptoms without the movement disorders tied to older antipsychotics. It takes a different route from traditional dopamine-blocking drugs.
Why now? Neurosterix recently completed Phase 1 studies and is steering NTX-253 toward Phase 2. The financing more than builds on the roughly $63 million launch round that created the company in 2024, led by Perceptive Advisors.
Why it matters: The raise sits in the top 4% of all-time Series B rounds for Swiss health startups, among 114 comparable deals. That signals strong investor appetite despite the lack of efficacy data in patients.
What's the endgame? The money and the Cobenfy hires are meant to advance a differentiated treatment through mid-stage trials. The muscarinic approach gained validation after Bristol Myers Squibb's Cobenfy established a novel class of antipsychotics.
What could go wrong? NTX-253 has not yet shown it works in patients, and its value hinges on Phase 2 results. The field is crowded: Neurocrine is pursuing its own M4 drug, while AbbVie's rival emraclidine recently disappointed in schizophrenia trials.
The signal: Investors are backing muscarinic drugs as the next wave in schizophrenia treatment, moving past the decades-old dopamine model. Neurosterix's raise shows capital flowing to the approach even before patient efficacy is proven.
Read more: endpoints.news
Image credit: Neurosterix
