Promentis Pharmaceuticals raises $8.8 million

Company developing compounds to treat schizophrenia, other nervous system disorders

Money

Milwaukee-based Promentis Pharmaceuticals Inc. raised nearly $8.8 million in a recent funding round, according to an SEC document filed by the company this week.

The company raised the funds from eight investors. The funding round was launched Sept. 21 and has been completed with a total amount raised of $8,787,399, according to the document.

Promentis Pharmaceuticals is a pharmaceutical company that is developing compounds for the treatment of schizophrenia and other central nervous system disorders.

Promentis raised nearly $3 million in early 2014 in a series B financing round.

The company was founded in 2007 by Dr. David Baker, a Marquette University professor and associate chair in MU’s Department of Biomedical Sciences, and John Mantsch, the chair of Marquette’s Department of Biomedical Sciences. The company’s president and CEO is Chad Beyer. Baker is now a board member of the company.

The company’s technology was in-licensed by Marquette University and the University of Wisconsin-Milwaukee.

A representative for the company could not be reached to comment on the latest funding round.

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Andrew is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, he is a lifelong resident of the state. He lives in Muskego with his wife, Seng, their son, Zach, and their dog, Hokey. He is an avid sports fan and is a member of the Muskego Athletic Association board of directors.

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