Sage Therapeutics, a Cambridge-based biopharmaceutical company developing medicines to treat central nervous system diseases, announced Wednesday a $20 million Series B financing from investors Arch Venture Partners and Third Rock Ventures, bringing the total raised to $57.8 million since launch in 2011.
Robert Nelsen, cofounder and managing director of Arch Ventures, will join the Sage board of directors, the company said in a press release.
“SAGE has made tremendous progress since launching two years ago, and we expect to have as many as five programs in clinical studies by this time next year,” Sage chief executive Jeffrey Jonas, MD, said in a statement. “This funding will support our continued evolution into a development and commercial stage company that could transform the treatment landscape for a broad range of serious CNS (central nervous system) diseases. We are also gaining a very skilled board member in Bob Nelsen and look forward to adding his strategic leadership to our team.”
According to Nelsen, Sage’s “approach to restoring the natural balance of brain activity has the potential to address a number of debilitating CNS disorders, including traumatic brain injury, Fragile X, depression, and pain, where there is a dire need for better therapies.”