Mike McCully, Gate Neurosciences CEO

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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