Prexa releases details on $7M funding
Prexa Pharmaceuticals today revealed that Shire Pharmaceuticals was among the investors in Prexa’s $7 million Series B financing, which was first reported in a filing with the U.S. Securities and Exchange Commission in late April.
Prexa, based in Boston, said the financing will allow the company to complete Investigational New Drug related studies and carry it through Phase 1b clinical studies of its drug candidate PRx-12251. The company is targeting central nervous system disorders with its technology, oral small molecule monoamine reuptake inhibitors that act most potently at the dopamine transporter by safely enhancing dopamine activity, and to a lesser extent norepinephrine activity. Its goal is to improve upon the safety and efficacy of current treatments for ADHD, depression and Parkinson’s disease.