Naurex raises $18M for Ph2 depression program

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Evanston, IL-based Naurex is banking an $18 million Series A for its work on a new treatment for depression. And it's gained some significant support from a group of venture backers which includes a trio of pharma investment arms. Adams Street Partners and Latterell Venture Partners led the round with  Druid BioVentures, Genesys Capital, PathoCapital, Lundbeck, Takeda Ventures and Shire taking part. Much of the money will be used for a Phase II trial of GLYX-13, a glycine-site functional partial agonist selective modulator of the NMDA receptor. Naurex release