NEW YORK and ROME — GRIN Therapeutics, Inc., a specialist in the development of therapies to treat serious neurodevelopmental disorders, and Angelini Pharma, part of the privately owned Angelini Industries, have announced a collaboration for the development and commercial rights outside of North America of GRIN Therapeutic’s investigational drug radiprodil, currently being studied in multiple rare genetic epilepsies and neurodevelopmental disorders.
GRIN Therapeutics also announced the closing of its $140 million Series D financing with investment by Angelini Pharma and Blackstone Life Sciences. Together, the two transactions highlight a significant total near-term commitment of $115 million from Angelini Pharma, which includes a $65 million strategic equity investment and a $50 million upfront payment related to the collaboration. Existing GRIN Therapeutics investor Blackstone Life Sciences contributed $75 million to the Series D financing round. Jacopo Andreose, PhD, CEO of Angelini Pharma, will join GRIN’s Board of Directors.
“We are very pleased to close this financing round and to welcome Angelini Pharma—an ideal partner whose engagement reflects the significant value we’ve built around the radiprodil program in a relatively short period,” said Bruce Leuchter, MD, President & CEO of Neurvati Neurosciences and GRIN Therapeutics. “This strategic collaboration marks an important point of validation for GRIN Therapeutics, the clinical data generated to date, and the potential of radiprodil as the first approved treatment for patients with GRIN-related neurodevelopmental disorder (GRIN-NDD)—a population with urgent unmet need. We are also deeply grateful for the continued support and commitment of Blackstone Life Sciences, whose partnership has been instrumental in advancing our efforts. With this momentum, we are well-positioned to move radiprodil into pivotal trials and take an important step toward delivering a novel therapeutic option to patients and families.”
“Our strategic collaboration with GRIN Therapeutics, including our participation in this Series D financing and in-licensing deal for radiprodil, reflects our dedication to advancing highly innovative treatments in brain health, building on our deep therapeutic expertise in neurology and psychiatry” said Jacopo Andreose, PhD, CEO of Angelini Pharma. “We see radiprodil as an opportunity to address the substantial unmet medical need of people living with GRIN-NDD and potentially other rare pediatric neurological diseases. We look forward to working closely with the team at GRIN Therapeutics to help bring this promising therapy to patients around the world.”
“Angelini Pharma is a leading international pharmaceutical company and we are thrilled to have their backing, partnership and commitment to the further growth of GRIN Therapeutics and development of radiprodil,” said Kiran Reddy, MD, Senior Managing Director, Blackstone Life Sciences. “The team’s rapid progress with radiprodil—achieving multiple regulatory designations and advancing toward a pivotal Phase 3 trial— is very promising and today’s milestone also validates the ability of Neurvati’s model to efficiently develop high-impact neuroscience therapies.”
Radiprodil is a targeted, selective, and potent negative allosteric modulator of the GluN2B subunit of the N-methyl-D-aspartate (NMDA) receptor. NMDA receptors are crucial for synaptic transmission, cognition and seizures. Several NDDs and epilepsy syndromes are associated with either genetic mutations or overactivation of NMDA receptors.
Radiprodil has received multiple regulatory designations, including Breakthrough Therapy designation from the U.S. Food and Drug Administration (FDA) for the treatment of seizures associated with GRIN-NDD with gain-of-function (GoF) variants. Additionally, radiprodil has been granted FDA Orphan Drug designation, rare pediatric disease designation, European Medicines Agency (EMA) Priority Medicines (PRIME) designation, and a positive opinion for orphan designation from the EMA Committee for Medicinal Products for Human Use (CHMP) for the treatment of GRIN-NDD. The company remains on track to initiate a global, pivotal Phase 3 clinical trial for radiprodil in GRIN-NDD in the third quarter of 2025. Additionally, an ongoing open-label Phase 1b/2a study, known as the Astroscape trial, is evaluating radiprodil in patients with tuberous sclerosis complex (TSC) and focal cortical dysplasia (FCD) type II.
Under the terms of the agreement, GRIN Therapeutics will continue to lead global development and retain exclusive rights for radiprodil in the United States, Canada, and Mexico. Angelini Pharma will receive exclusive rights to commercialize radiprodil in the rest of the world. GRIN Therapeutics will receive an upfront payment of $50 million, and the parties will share certain clinical development costs for radiprodil. Additionally, GRIN Therapeutics may receive up to an additional $520 million based on achieving certain development, regulatory and sales milestones. GRIN Therapeutics is also eligible to receive tiered royalties based on global sales as well as payments from any future sublicense transactions outside of Europe.
“Our strategic collaboration with Angelini Pharma shows how global partnerships can play an important role in advancing our business strategy at Neurvati, which is purpose-built to identify, advance, and unlock the potential of promising neuroscience assets through focused, mid-to-late stage development,” said Dr. Leuchter, adding, “We are also very pleased to welcome Jacopo Andreose to our Board of Directors. His deep expertise in global drug development and commercialization will be a significant advantage for us as we progress radiprodil through Phase 3 development and prepare for potential regulatory approvals worldwide.”
