Euthymics Bioscience is a neuroscience-focused clinical-stage company developing next-generation triple reuptake inhibitors optimized for specific CNS indications. Its lead candidate, EB-1010, is a serotonin-preferring triple reuptake inhibitor for major depression that has demonstrated proof-of-concept efficacy without causing weight gain or loss of sexual function; the company plans a multicenter phase 2b/3a TRIADE trial in the first half of 2011. The second candidate, EB-1020, is a norepinephrine- and dopamine-preferring triple reuptake inhibitor being developed as a non-stimulant treatment for adult ADHD, designed to combine the pharmacology of the two most relevant brain chemicals while avoiding stimulant abuse liability. The company expanded its Series A financing to $28 million (a $4 million addition to a $24 million round that closed in July 2010) to accelerate preclinical development of EB-1020. Proceeds will fund GMP manufacturing of EB-1020, a full GLP preclinical program, and a large phase 1 program to enable further human testing, with the company expecting a potential IND filing by early 2012. Euthymics is a private corporation headquartered in Cambridge, Massachusetts. Euthymics Bioscience focuses on developing novel antidepressants, including EB-1010 (formerly DOV 21,947) for patients who do not respond adequately to SSRIs. The company completed the acquisition of DOV Pharmaceutical, giving it a broader pipeline of monoamine reuptake inhibitors targeting CNS disorders such as ADHD, obesity, anxiety, obsessive compulsive disorder and drug addiction. Euthymics plans to begin clinical trials next year, with Maurizio Fava, M.D., serving as principal investigator. The company recently secured financing to support development and the DOV acquisition. Governance changes accompanying the financing include Campbell Murray, M.D., of Novartis Venture Funds serving as chairman and new board members from Venture Investors, Hambrecht & Quist Capital Management and GBS Venture Partners. Operations and development are being advanced from its Cambridge, Massachusetts base.

Total raised

$28M

Funding rounds

2

Latest round

Series A

Latest activity

Mar 2011