Indianapolis: CoLucid Pharmaceuticals, an innovative biotechnology company focusing on therapies for central nervous system disorders, announced it closed a $25 million Series B financing. New Investor Care Capital led the round, which included previous investors Pappas Ventures, Domain Associates, Pearl Street Venture Funds and Triathlon Medical Ventures. The money will be used to further develop a unique migraine compound, COL-144, and to advance a preclinical pipeline of novel chemical entities targeting neurological and psychiatric disorders.

COL-144 is a first-in-class Neurally Acting Anti-Migraine Agent (NAAMA) designed to deliver efficacy in migraine without the vasoconstrictor activity associated with previous generations of migraine therapy. COL-144 selectively targets 5HT1F receptors expressed in the trigeminal nerve pathway.

CoLucid completed a Phase II clinical trial last year examining the efficacy of COL-144 in the acute treatment of migraine after intravenous administration. The trial provided clear evidence of safe, effective alleviation of migraine pain and identified a range of doses that provided relief of migraine symptoms and were well tolerated. Based on these encouraging results, CoLucid is advancing clinical development of COL-144 as a treatment for migraine by the oral route of administration.