Marinus lands $20M in second round

Connecticut-based Marinus Pharmaceuticals has secured $20 million in a fresh round of financing. The company, which is developing drugs to treat neurological and psychiatric disorders, previously raised a $29.5M Series A in 2005. Marinus' round was led by Canaan Partners, Domain Associates, Sofinnova Ventures and Foundation Medical Partners.

Marinus will use the funding to advance development of ganaxolone, an adjunctive agent for the treatment of refractory partial seizures and to explore proof of concept studies in psychiatric indications. The company recently announced positive Phase IIa data for the drug as an adjunctive therapy in adults with partial onset seizures.

"We've made tremendous strides since our Series A financing, with the completion of two Phase IIa clinical trials for ganaxolone in two separate indications, significant patent applications to protect our intellectual property, and advances on formulations which resulted in novel IP and a strong commercial candidate," said Marinus CEO John Krayacich.

- here's Marinus' release

ALSO: Piedmont Pharmaceuticals raised $5 million in equity financing led by CM Capital Investments of Brisbane, Australia. Report