Venture funding for AD firm Mithridion

Mithridion, a US drug development company focusing on serious central nervous system disorders, including Alzheimer's disease, has held an  initial closing of $2.9 million in series B preferred stock financing.  The company will use the funds for the clinical development of MCD-386,  its lead drug candidate, aimed at stopping or slowing down disease  progression and improving memory and cognition in this devastating  disorder. The company has raised $7.4 million to date in equity funding.

Venture Investors led this latest round of financing. The State of  Wisconsin Investment Board and Wisconsin Investment Partners, both of  Madison, Wisconsin, and Rocket Venture Fund (Toledo, Ohio), all existing  shareholders, also participated in the latest funding. Mithridion plans  to hold a final closing with respect to this financing on or before  March 31. John Neis, managing director of VI, will join Mithridion's  board of directors.