Montara Therapeutics closes $20 million funding

US pre-clinical biotech start-up Montara Therapeutics, which is pioneering brain-selective therapies for CNS diseases, has announced the closing of a $20 million oversubscribed expansion of its Series Seed financing.

The company noted that the financing round, which brings Montara’s total seed funding to $28 million, includes increased participation from all existing investors, including founding investor SV Health Investors’ Dementia Discovery Fund, Two Bear Capital, Dolby Family Ventures, and KdT Ventures, along with new investments from BEVC and additional investors.

“As we take this next critical step towards the clinic, we’re thrilled by upsized commitments from our existing investors and welcome the new investors to our syndicate,” said Nicholas Hertz, founder and chief executive of Montara.