(Alliance News) - Schroders Capital Global Innovation Trust PLC on Friday said it had made an investment of USD1.6 million in California-based clinical-stage cell therapy company Neurona Therapeutics.
The London-based investment trust with a diversified portfolio of global private and public equity companies said it participated in Neurona's Series E financing round, which raised USD120 million.
Proceeds from the financing will be used to advance the company's pipeline of wholly-owned, off-the-shelf cell therapies for multiple indications, including its lead investigational candidate, NRTX-1001, Schroders said.
Lead Portfolio Manager Tim Creed and Co-Portfolio Manager Harry Rikes said: "We are delighted to make another investment as part of the portfolio sub-strategy of backing innovative life science companies at the near-clinical or clinical stage of development. We believe Neurona is a highly complementary addition to the company's portfolio. This funding will help advance Neurona's cell therapies to address unmet needs in chronic neurological disorders, and we are encouraged by the strength of the initial clinical data."
Shares in Schroders Capital Global Innovation Trust fell 0.2% to 12.32 pence each in London on Friday morning.
By Sabrina Penty, Alliance News reporter
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