Clinical-stage biopharmaceutical company Praxis Precision Medicines Inc revealed on Tuesday that it has secured about USD110m in a Series C1 financing led by Eventide Asset Management.

The company added that top-tier healthcare investors also took part in the financing. These included existing investors Vida Ventures, Novo Holdings, Blackstone Life Sciences and OCV Partners and new participation from Avoro Capital Advisors, Surveyor Capital (a Citadel company), Point72, Cormorant Asset Management, Qatar Investment Authority (QIA), Irving Investors, Adage Capital Management, Verition Fund Management and Ample Plus Fund.

Praxis Precision Medicines translates genetic insights into the development of therapies for central nervous system, or CNS, disorders characterised by neuronal imbalance. Its clinical pipeline is comprised of PRAX-144, currently in Phase 2 development for the treatment of major depressive disorder and perimenopausal depression; PRAX-944, currently in Phase 2 development for the treatment of essential tremor; and PRAX-562, currently in Phase 1 development for the treatment of paediatric epilepsy and adult cephalgia.