Neurelis, Inc. said today that it closed a Series B financing round, led by HBM Healthcare Investments. Other investors included LYZZ Capital, which previously led a Series A funding round for the company. Neurelis will use the funds to complete clinical trials for its intranasal diazepam spray and prepare a new drug application to submit to the FDA.
The round, which closed at an undisclosed amount, comes just 1 day after the company said that the FDA granted fast track designation for its diazepam spray, NRL-1. The intranasal formulation is being developed for pediatric and adult epilepsy patients with acute repetitive or cluster seizures.
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