BRANFORD, Conn., Oct. 25 /PRNewswire/ -- Marinus Pharmaceuticals, Inc., a new developer of drugs to treat serious central nervous system disorders, today announced the closing of a $29.4 million Series A financing round. The financing was led by Domain Associates, Sofinnova Ventures and Canaan Partners, with participation by Foundation Medical Partners and private investors. The funds will be used primarily for the in-licensing and development of clinical stage drugs to treat neurological, psychiatric and pain disorders.
"We are extremely proud of our new investor group and thrilled at the confidence shown in our team and our strategy," said Harry H. Penner, Jr., Marinus' Chairman and CEO.
"We believe that Marinus has the opportunity to become a leader in developing new therapies to treat serious CNS disorders," said Nicole Vitullo, a partner at Domain Associates.
"The Marinus prospect for bringing to market drugs known for their efficacy and for an excellent safety profile was the key investment factor," commented Nicola Campbell, Ph.D, a partner at Sofinnova Ventures.
Ms. Vitullo and Dr. Campbell will join Mr. Penner on the company's board of directors, as will Stephen Bloch, MD, of Canaan Partners.
About Domain Associates
Founded in 1985, Domain Associates L.L.C. is a venture capital firm with an exclusive focus on life sciences. With $1.4 billion under management, Domain is headquartered in Princeton, N. J. with a second office in Laguna Nigel, CA.
About Sofinnova Ventures
Sofinnova Ventures is a venture capital firm emphasizing a diversified investment strategy through financing early stage companies in the life science and information technology sectors. Founded in 1974, the San Francisco-based firm currently has $600 million under management. Sofinnova's mission is to create value by providing entrepreneurs with the resources, experience and networks necessary to turn their bright ideas into thriving businesses. With deeply rooted ties to Europe's leading financial, technology and venture institutions, Sofinnova is also uniquely positioned to foster trans-Atlantic synergy and market acceleration. For more information, visit http://www.sofinnova.com/.
About Canaan Partners
Canaan Partners are proven company-builders who catalyze the development of innovative early- and mid-stage technology and healthcare companies to create next-generation market leaders. Founded in 1987, the firm has invested in more than 210 companies, completed 52 mergers and acquisitions, and taken 45 companies public. Canaan was an early investor in Dexcom (DXCM), Dexterra, DoubleClick (DCLK), CommerceOne (CMRC), Copper Mountain Networks (CMTN), Esperion (ESPR), Immunicon (IMMC), ONI Systems (ONIS), and Peninsula Pharmaceuticals. Canaan has offices in Menlo Park, California and Rowayton, Connecticut. http://www.canaan.com/
About Foundation Medical Partners
Foundation Medical Partners is a venture capital investment firm affiliated with The Cleveland Clinic Foundation. The firm is focused solely on health care with a special interest in medical devices, biopharmaceutical platforms and products, and other opportunities in health care including diagnostics, health care services, and health care information systems. Foundation is based in Rowayton, Connecticut.
Marinus Pharmaceuticals, Inc. is based in Branford, CT and is dedicated to the identification, development and commercialization of drugs to treat serious neurological, psychiatric and pain disorders. Marinus is a privately held company funded by Domain Associates, Sofinnova Ventures, Canaan Partners, and Foundation Medical Partners. For additional information on Marinus, please visit http://www.marinuspharma.com/.
CONTACT: Harry H. Penner, Jr., Chairman & CEO, of Marinus Pharmaceuticals, Inc., +1-203-315-0566 x-5211; or Rhonda Chiger, of Rx Communications Group, for Marinus Pharmaceuticals, Inc., +1-917-322-2569