Recently out-of-stealth neuroscience outfit unveils cash raise, more details on Lilly, Northwestern programs
Gate Neurosciences, well, came out of the gate in late August with a lineup of drugs, known as NMDA receptor modulators, for major depressive disorder and schizophrenia that it licensed from AbbVie.
It also shared that AbbVie and Eli Lilly were shareholders. But all other details, it kept to itself.
In its most recent update, Gate disclosed that it raised $25 million, with funding coming from Innoviva, Luson Bioventures, Biocrossroads, ThornApple Capital and others. Innoviva is the Theravance spinout that once held royalty rights to GSK’s inhaler Trelegy, before both it and Theravance sold those rights to Royalty Pharma for $1.3 billion upfront.
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