Emalex Biosciences raised $250 million, a Series D round of funding that was the biggest biotech financing of the past week. Other biotech startup that raised money include Alterome Therapeutics, hC Bioscience, and Novadip Bioscience.
Emalex Biosciences will use the cash from its Series D financing to conduct a Phase 3 clinical trial for ecopipam, an experimental treatment for Tourette syndrome. Though there drugs are already available for Tourette, Emalex’s drug addresses a different central nervous system target that the biotech believes could offer an edge.
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