GRIN raises $140 million and enters global pact for epilepsy candidate

US biotech GRIN Therapeutics has secured $140 million in Series D funding and signed a licensing deal with Italy's Angelini Pharma that could bring in more than $500 million in future payments tied to its lead investigational therapy, radiprodil.

The New York-based company is developing radiprodil for a rare group of genetic conditions known as GRIN-related neurodevelopmental disorders (GRIN-NDD). These typically emerge in childhood and are marked by seizures, developmental delays, movement issues, and features of autism. The new funding is expected to support a pivotal Phase III trial beginning later this year.

Angelini is investing $115 million across the two transactions, including $65 million in equity and a $50 million upfront payment for rights to commercialize radiprodil outside North America. GRIN retains US, Canadian and Mexican rights and will continue to lead development of the drug, while sharing certain trial costs with its partner.