Finance Watch: Three Neurology-Focused Firms Raise VC Mega-Rounds

Biopharmaceutical companies developing therapies for neurological diseases are in the midst of a boom, not only in terms of novel approaches to treating intractable diseases but also in terms of attracting large sums of money to fund their research and development programs. Neuron23 Inc., Neurogene Inc. and Locanabio, Inc. each recently revealed new funding totaling $100m or more to fund R&D for neurological and other diseases.

Investors and biopharma executives frequently observe that this is neurology’s heyday, including newly named Sage Therapeutics, Inc. CEO Barry Green, who told Scrip he was looking to move from Alnylam Pharmaceuticals Inc. to a company focused on central nervous system diseases because “CNS feels like oncology did 20 years ago, where we're starting to understand pathways and brain neurocircuitry” and “it feels like real innovation can occur in CNS and have a meaningful impact on patients