GRIN Therapeutics announced the completion of a $140 million Series D financing round alongside a strategic collaboration with Angelini Pharma for the global development and commercialization of radiprodil, an investigational treatment for rare neurodevelopmental disorders. The dual transactions represent a significant milestone for the company as it prepares to advance radiprodil into pivotal Phase 3 trials.
Strategic Partnership and Financing Details
The Series D financing includes a $65 million strategic equity investment from Angelini Pharma and $75 million from existing investor Blackstone Life Sciences. Concurrently, GRIN entered into an exclusive collaboration agreement with Angelini Pharma, receiving $50 million upfront and eligibility for up to $520 million in development, regulatory, and sales milestones, plus tiered royalties.
Under the collaboration terms, GRIN Therapeutics retains exclusive rights for radiprodil in the United States, Canada, and Mexico, while Angelini Pharma receives exclusive commercialization rights for the rest of the world. The parties will share certain clinical development costs for the program.
"This strategic collaboration marks an important point of validation for GRIN Therapeutics, the clinical data generated to date, and the potential of radiprodil as the first approved treatment for patients with GRIN-related neurodevelopmental disorder (GRIN-NDD)—a population with urgent unmet need," said Bruce Leuchter, MD, President & CEO of Neurvati Neurosciences and GRIN Therapeutics.
Radiprodil's Mechanism and Regulatory Status
Radiprodil is a targeted, selective, and potent negative allosteric modulator of the GluN2B subunit of the N-methyl-D-aspartate (NMDA) receptor. NMDA receptors are crucial for synaptic transmission, cognition and seizures, with several neurodevelopmental disorders and epilepsy syndromes associated with genetic mutations or overactivation of these receptors.
The investigational drug has received multiple regulatory designations, including Breakthrough Therapy designation from the U.S. Food and Drug Administration (FDA) for treating seizures associated with GRIN-NDD with gain-of-function variants. Additional designations include FDA Orphan Drug designation, rare pediatric disease designation, European Medicines Agency (EMA) Priority Medicines (PRIME) designation, and a positive opinion for orphan designation from the EMA Committee for Medicinal Products for Human Use (CHMP).
Clinical Development Progress
GRIN Therapeutics remains on track to initiate a global, pivotal Phase 3 clinical trial for radiprodil in GRIN-NDD in the third quarter of 2025. The planned trial will evaluate the impact of targeted treatment on core aspects of the disease, including seizures, behavioral abnormalities and functional outcomes.
The company reported promising topline data from a Phase 1b/2a clinical trial (the Honeycomb Trial) evaluating radiprodil in GRIN-NDD patients with gain-of-function variants, leading to the decision to advance to the global Phase 3 trial. Additionally, an ongoing open-label Phase 1b/2a study, the Astroscape trial, is evaluating radiprodil in patients with tuberous sclerosis complex (TSC) and focal cortical dysplasia (FCD) type II.
Strategic Rationale and Market Opportunity
Jacopo Andreose, PhD, CEO of Angelini Pharma, emphasized the collaboration's alignment with the company's focus on brain health: "We see radiprodil as an opportunity to address the substantial unmet medical need of people living with GRIN-NDD and potentially other rare pediatric neurological diseases."
Kiran Reddy, MD, Senior Managing Director at Blackstone Life Sciences, highlighted the rapid progress achieved: "The team's rapid progress with radiprodil—achieving multiple regulatory designations and advancing toward a pivotal Phase 3 trial—is very promising and today's milestone also validates the ability of Neurvati's model to efficiently develop high-impact neuroscience therapies."
Company Positioning
GRIN Therapeutics operates as an affiliate of Neurvati Neurosciences, a portfolio company of Blackstone Life Sciences that identifies and advances high-potential drug candidates across the neuroscience landscape. Angelini Pharma, part of the privately owned Angelini Industries, operates directly in 20 countries and employs more than 3,000 people, with products marketed in over 70 countries through strategic alliances.
The funding from both transactions will support ongoing operations and the planned global pivotal Phase 3 trial, positioning GRIN Therapeutics to potentially deliver the first approved treatment for GRIN-NDD patients worldwide.
