Neuvivo Raises $11M in Venture Financing to Develop Treatment for ALS

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Jun 15, 2023, 08:30 ET

- Adds New Board Member PrimeStreet Capital's Virit Vichitvadakan -

PALO ALTO, Calif., June 15, 2023 /PRNewswire/ -- Neuvivo, a late-clinical stage biopharmaceutical company developing a new treatment for ALS, today announced that it has closed on an $11M round of financing led by PrimeStreet Capital. Neuvivo is pleased to announce that PrimeStreet Capital General Partner, Virit Vichitvadakan, will join the company's Board of Directors.

"We are delighted to have completed this key funding for the continued development of NP001 for the treatment of ALS and we warmly welcome Virit to our Board," said Ari Azhir, PhD, CEO, Neuvivo. "We are committed to making NP001 available to people diagnosed with ALS and anticipate that Virit will help Neuvivo achieve its corporate goals."

"Venture capital needs to reimagine how we help our portfolio companies make impact," said Virit Vichitvadakan, General Partner of PrimeStreet Capital. "We are excited for the opportunity to support Neuvivo with our full financial and strategic management ecosystem, and helping with the objective of improving the lives of many people through the therapeutic innovations that Neuvivo is developing."

Vichitvadakan has served as General Partner of PrimeStreet Capital, the alternative investment management arm (venture capital and private equity) of the PrimeStreet Group, since 2017 and joins the Neuvivo board with more than 25 years of experience in fund management, investment banking, strategic marketing, business development, and entrepreneurship. He has worked closely to help startups, SMEs, large corporations, and listed companies to scale and achieve sustainable growth. Earlier in his career he was at SAATCHI & SAATCHI directing market growth and branding strategies for Proctor & Gamble in Southeast Asia, Australia and China markets.

About Neuvivo: Neuvivo is a late-clinical stage biopharmaceutical company developing new treatments for ALS and other neurodegenerative diseases. The company was formed by industry leaders and scientists with the goal of improving the prognosis for patients diagnosed with diseases for which there are few current treatment options. Lead candidate NP001 has shown promise to be effective in a large subset of people living with ALS, coupled with an excellent safety profile. Neuvivo is working to make this treatment broadly available to patients. For more information please visit: www.Neuvivo.com

Contact:
Jennifer Larson
415 409 2729
[email protected]

SOURCE Neuvivo, Inc.