Mnemosyne garners $6M expansion round

Providence, RI-based Mnemosyne Pharmaceuticals says it's added a $6 million expansion round with the help of Atlas Venture and Clal Biotechnology Industries. The startup has two lead programs in schizophrenia and Rett syndrome, with additional work under way on neuropsychiatric disorders like depression. Mnemosyne says it is developing a new class of molecules, Subunit Selective NMDA Receptor Modulators, for the neuropsychiatry market. "The Subunit-selective NMDA Receptor Modulators being developed by Mnemosyne presents an innovative strategy for developing new drugs for neuropsychiatric diseases and we look forward to working with the Mnemosyne team to bring these new candidates to the clinic," said Peter Barrett, a partner at Atlas Venture. Release