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Posted: Jan 07, 2013
RusnanoMedInvest and Domain Associates Invest In Neurology Company Marinus Pharmaceuticals
(Nanowerk News) Marinus Pharmaceuticals, Inc. announced $21 million in new Series C financing from U.S. venture capital firm Domain Associates, LLC, Rusnano subsidiary RusnanoMedInvest (RMI), and co-investors Canaan Partners, Sofinnova Ventures and Foundation Medical Partners. Based in Branford, Connecticut, Marinus is the developer of the first-in-class, neuroactive steroid Ganaxolone.
Marinus Pharmaceuticals—the leader in the development of neurosteroids for central nervous system disorders—is formulating Ganaxolone for the treatment of neurological and psychiatric indications. Ganaxolone was licensed in 2003 from Purdue Pharma and has been reformulated and optimized using the Marinus-patented nanotechnology platform. Phase II clinical results indicate a significant reduction in seizure frequency among adult epileptics and confirm an excellent therapeutic safety profile of the drug. Additional Phase II studies are underway to test the effectiveness of the Ganaxolone in treating post-traumatic stress disorder and fragile-X syndrome.
"Marinus is pleased to have the financial support of Domain and RMI in addition to our current syndicate," said Christopher M. Cashman, Chief Executive Officer of Marinus Pharmaceuticals, Inc. "This financing is critical for the progression of multiple clinical studies throughout the US. We look forward to building a successful relationship with RMI and advancing the development of Ganaxolone in Russia and the CIS countries."
"We are very excited to be working with RMI on the continued development of Ganaxolone," said Nicole Vitullo, Partner at Domain Associates, LLC. "The Series C funding will enable Marinus to conduct further clinical development in Epilepsy and other CNS indications."
About Marinus Pharmaceuticals
Based in Branford, Connecticut, Marinus Pharmaceuticals is a specialty pharmaceutical company dedicated to the reformulation, development, and commercialization of novel drugs to treat serious neurological and psychiatric disorders. Investors include Domain Associates LLC, RusnanoMedInvest, Canaan Partners, Sofinnova Ventures and Foundation Medical Partners. www.marinuspharma.com.