Newleos Therapeutics Announces $93.5M Series A for Next Generation Mental Health Therapies

Gunderson Dettmer represented client Newleos Therapeutics, a clinical stage neuroscience company co-founded by Longwood Fund and seasoned leaders in CNS drug development, in its $93.5 million Series A financing led by Goldman Sachs Alternatives with participation from Longwood Fund, Novo Holdings, DCVC Bio and Arkin Bio Capital. Newleos Therapeutics is dedicated to providing a new dawn or "eos" for patients with mental health conditions by developing next generation, first- and best-in-class therapies.  The biotech will use the new capital to run proof-of-concept clinical trials across the programs.

In the announcement of the transaction, Newleos founding CEO David Donabedian, Ph.D. said, “Anxiety and substance use disorders represent some of the most prevalent neuropsychiatric indications with high unmet need, representing over 25 percent of mental illnesses in US adults and impacting over 60 million individuals. With a seasoned, founding team that has extensive company creation and CNS drug development experience, Newleos will use this capital to conduct proof-of-concept clinical trials across our programs.”

The Gunderson Dettmer deal team was led by Tim Ehrlich and included Tim Kulis, Jordana Douglas and Joel Diamond.

Companies
Newleos Therapeutics
Longwood Fund