Newleos Therapeutics has closed an oversubscribed Series A financing round, raising $93.5m to revolutionise neuropsychiatric disorder treatments with new medicines. Goldman Sachs Alternatives spearheaded the funding round which also saw contributions from Longwood Fund, Novo Holdings, Arkin Bio Ventures and DCVC Bio. Newleos in-licensed its clinical-stage pipeline from Roche, which comprises several oral small molecules with new mechanisms targeting a range of conditions such as generalised anxiety, social anxiety, cognitive impairment and substance use disorders. The company made an upfront payment and will provide success-based milestones and royalties in exchange for global rights to the clinical-stage assets. Newleos founding CEO and Longwood Fund executive partner David Donabedian stated: “Anxiety and substance use disorders represent some of the most prevalent neuropsychiatric indications with high unmet need, representing more than 25% of mental illnesses in US adults and impacting 60 million individuals.

Full report : Newleos, a new biotech with $93.5M, repurposes Roche’s experimental CNS drugs.