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02/27/2007

Embera NeuroTherapeutics, Inc. Closes Series A Funding

 

Embera NeuroTherapeutics, Inc., a start-up company developing novel treatments for a broad range of addictions, as well as other neuropsychiatric disorders, has secured over $800,000 of Series A financing that will help the company move its novel combinational drug into Phase 1b FDA trials.

Embera NeuroTherapeutics is based on technology discovered by Dr. Nicholas Goeders at the Louisiana State University Health Sciences System in Shreveport.

Embera NeuroTherapeutics, Inc. is funded by Louisiana Ventures, LP, and is dedicated to freeing minds from diseases such as addiction, depression, anxiety disorders and related diseases. While initially targeting cocaine addiction, the company is developing novel treatments for a broad range of addictions, including nicotine, methamphetamine (“crystal meth”) and alcohol addiction, as well as other neuropsychiatric disorders.

Board member and President Marie A. Lindner, M.D. said, “By targeting the specific Brain functions associated with stress, Embera stands as one of the first companies to provide possible preventive as well as therapeutic treatments for drug and alcohol abuse, as well as treatments for a host of other mental illnesses.”

“Like most scientific breakthroughs, this technology came from years of research,” said Ross P. Barrett, managing partner of Louisiana Ventures, LP. “Standing on the strength of 20 years of research from Dr. Goeders, coupled with the capitalization and seasoned, life-science focused Board of Directors we have compiled, the company is now poised for the Phase 1b FDA trials.”

While most other medicines designed to treat drug and alcohol addictions typically only target the limbic system of the brain, Embera's approach targets the prefrontal cortex, which is a higher cognitive center than the limbic system. Embera's lead therapeutic patent-pending drug, EMB 001, developed by Dr. Goeders, is a novel composition of two off-patent, FDA-approved drugs with a long history of use and an established safety profile.

Embera will use the Series A funding to perform clinical trials and research to support additional indications.

“Louisiana Fund I has followed the development of this technology at LSU Health Sciences Center for several years and we are very excited about the potential of a breakthrough in addiction treatment that could come from this technology,” said Joseph F. Lovett, managing general partner of Louisiana Fund I. “We are delighted to have Embera located in Shreveport. Also, we are looking forward to working with board members Dr. Marie Lindner and Dr. Franz F. Hefti who are highly experienced at operational execution in the biomedical area.”

As part of the financing, Joe Lovett and Dr. Franz Hefti joined the Embera board of directors.

For more information, please visit: www.emberaneuro.com