Promentis Pharmaceuticals is developing therapies to treat central nervous system (CNS) disorders, with its lead compound SXC-2023 designed to engage System Xc- to address glutamatergic dysfunction and oxidative stress. The company reports a compelling preclinical profile for SXC-2023 across a range of studies. Promentis has obtained an exclusive license from Marquette University and the University of Wisconsin–Milwaukee Research Foundation to related intellectual property. The company intends to use the Series C proceeds to advance SXC-2023 through a Phase 2 clinical proof-of-concept study. Leadership named in the filings includes Klaus Veitinger (CEO, Chairman), Tom Beck (Chief Medical Officer), Daniel Lawton (President) and Chad Beyer (Senior VP, R&D). The company has raised a total of more than $31M to date. Promentis Pharmaceuticals develops novel compounds aimed at modifying brain chemistry to treat schizophrenia, Parkinson’s disease and pediatric disorders including autism. Founded in 2007 by Chad Beyer, Ph.D., M.B.A., who serves as president and CEO, the company is based in Milwaukee, WI. Its lead programs target central nervous system disorders and have received support from grants from the National Institute of Mental Health (NIMH) and the Michael J. Fox Foundation. The company raised nearly $3M in a Series B financing to advance its development plans. Promentis intends to use the funds to secure investigational new drug (IND) status for two lead compounds and advance these programs into human clinical testing over the next 24 months.

Total raised

$29M

Funding rounds

2

Latest round

Series C

Latest activity

Mar 2017