Henry Gosebruch has been tapped to run the CEO of the spinout, which comes equipped with roughly $2.5 billion and plans to use deals to build a pipeline of “innovative medicines.”
The first of three phase 3 trials of Neumora Therapeutics' novel antidepressant navacaprant has ended in failure, wreaking havoc with the start-up's share price.
Neumora Therapeutics stock advanced as much as 16% in Wednesday morning’s trade after it was revealed that Amgen Inc (NASDAQ:AMGN) holds a material stake in the company.
Launched last year to change how brain drugs are made, the biotech has now raised about $650 million to build its pipeline of neurodegenerative and psychiatric therapies.
After a bustling, record-setting 2020 for private biotechs raising cash, the bar heading into 2021 was exceptionally high. Turns out, private investors elected to just take the bar and do pull-ups, breaking 2020’s record by a whopping 26%.
It’s the kind of jump that’s genuinely hard to believe. Biotechs raised more than $22 billion in private funds in 2020, rebounding after a slow 2019. Then 2021 came along, and the industry's young companies ginned up $28.5 billion in cash, according to Evaluate Vantage's year-end report (PDF).