The company will use the Series B funding to finance its programmes in central nervous system (CNS) disorders. It said that while there is an unmet need for new treatments for CNS disorders, there has been little recent success in developing safe and effective therapies.
SAGE CEO Jeffrey Jonas said, “SAGE has made tremendous progress since launching two years ago, and we expect to have as many as five programs in clinical studies by this time next year.
“This funding will support our continued evolution into a development and commercial stage company that could transform the treatment landscape for a broad range of serious CNS diseases. We are also gaining a very skilled board member in Bob Nelsen and look forward to adding his strategic leadership to our team.
SAGE was launched with a $35m capital injection in 2011 by Third Rock alongside a research and development team and CNS experts.
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