GRIN Therapeutics Secures $710M in Funding and Licensing Deal for Epilepsy Drug

GRIN Therapeutics, a biotech company specializing in therapies for rare epilepsies, has announced a significant financial boost and strategic partnership that will accelerate the development of its lead drug candidate, radiprodil. The company has successfully closed a $140 million Series D funding round and inked a global licensing deal potentially worth up to $570 million with Italian pharmaceutical firm Angelini Pharma.

Series D Funding and Strategic Investment

The $140 million Series D financing round includes a $65 million strategic equity investment from Angelini Pharma and $75 million from existing investor Blackstone Life Sciences. This substantial influx of capital will provide GRIN Therapeutics with the resources needed to advance its pipeline of treatments for rare epilepsy disorders.

Licensing Agreement with Angelini Pharma

In addition to the Series D funding, GRIN Therapeutics has entered into a licensing agreement with Angelini Pharma for the development and commercialization of radiprodil outside North America. The deal includes:

• $50 million upfront payment
• Up to $520 million in potential milestone payments and royalties
• Angelini gaining rights to radiprodil outside Canada, the U.S., and Mexico
• GRIN retaining rights in North America and receiving royalties on global sales

This partnership brings GRIN Therapeutics' near-term funding from Angelini to $115 million, combining the upfront payment and strategic equity investment.

Radiprodil: A Promising Treatment for GRIN-Related Disorders

Radiprodil is GRIN Therapeutics' lead drug candidate, designed to treat GRIN-related neurodevelopmental disorders (GRIN-NDD). The compound acts as a negative allosteric modulator of the GluN2B subunit of the N-methyl-D-aspartate (NMDA) receptor, which plays a crucial role in synaptic transmission, cognition, and seizure activity.

GRIN-NDDs are a group of genetic disorders caused by mutations in GRIN genes, which encode for NMDA receptors. Patients with these disorders often experience symptoms such as developmental delay, seizures, autism, and intellectual disability.

The drug has received multiple designations from both the FDA and European regulatory authorities to expedite its development, including:

• Breakthrough Therapy designation
• Orphan Drug designation
• Rare Pediatric Disease designation

Clinical Development Plans

With the new funding and partnership in place, GRIN Therapeutics is poised to advance radiprodil's clinical development:

1. A Phase III pivotal trial for radiprodil in GRIN-NDD is expected to begin in the third quarter of 2025.
2. An ongoing Phase Ib/IIa study is evaluating radiprodil in patients with tuberous sclerosis complex (TSC) and focal cortical dysplasia (FCD) type II.

These clinical trials aim to demonstrate the efficacy and safety of radiprodil in treating rare epilepsy disorders, potentially offering new hope to patients with limited treatment options.