Biopharma
Newron Pharmaceuticals bags up to €38 million to fuel Phase III ENIGMA-TRS program
A final tranche of €12 million will follow, contingent on positive pivotal study results, with the share price calculated according to an agreed formula
- By IPP Bureau
| February 18, 2026
Newron Pharmaceuticals, a biopharmaceutical company focused on therapies for central and peripheral nervous system diseases, has landed a major funding boost.
The company has struck an agreement to raise up to €38 million through the subscription of newly issued shares by a mix of existing and new shareholders from Europe and Asia. The move strengthens Newron’s financial position as it pushes forward with its ENIGMA-TRS Phase III program.
Under the deal, investors will initially subscribe to up to 779,624 new shares at €19.24 each, generating up to €15 million in gross proceeds.
As the ENIGMA-TRS 1 and 2 pivotal studies advance toward their 12-week results—expected in Q4 this year but no later than November 30, 2026—the group will subscribe to additional shares totaling €11 million.
A final tranche of €12 million will follow, contingent on positive pivotal study results, with the share price calculated according to an agreed formula. These subscriptions are enabled by a capital increase approved by Newron’s shareholders in 2018 and the company’s board in 2025.
“The investment by this group of existing and new shareholders is further validation of our development strategy for evenamide as the potential first add-on therapy in schizophrenia and as a new treatment option for the vast majority of patients who are poorly responding or resistant to available treatment options,” said Roberto Galli, CFO of Newron.
“Importantly, this financing is expected to extend our operational runway well beyond the upcoming 12-week results from the ENIGMA-TRS 1 and 2 pivotal studies and support continued execution of our Phase III development program.”
