16
Aug

2014

GliaCure Closes on $5.8 Million Financing

B round financing with new and existing investors will advance GliaCure’s Alzheimer’s clinical program

 GliaCure, Inc., a company focused on developing novel, non-neuronal therapies for a range of neurological and neuropsychiatric disorders, today announced that it has successfully completed a $5.8 million B round financing, exceeding its original goal of $5 million. This financing round is incremental to its initial A round financing of $2.75 million in 2012 and includes both existing and new investors.

 GliaCure director Walter Dewey said, “We are very excited to have exceeded our fundraising goal. We believe this financing demonstrates the deep commitment of our existing investors and the confidence new investors have in GliaCure’s Alzheimer’s disease drug development program. We are extremely grateful to all who have chosen to join the GliaCure adventure and look forward to deploying this capital to advance the company’s upcoming Phase 1 clinical trial in Alzheimer’s disease.”

 “This level of funding from a network of private investors and high net worth individuals is truly exceptional,” said Phil Haydon, Ph.D., President and co-Founder of GliaCure. “It will allow us to push forward aggressively with our development program, particularly in Alzheimer’s disease. We are confident that we will justify the trust that our investors have placed in us.”