A Chicago biotech skips the IPO in favor of late-stage Series D for a PhIII Tourette drug

Emalex Biosciences has secured $250 million in Series D funds to bankroll a Phase III clinical trial in children, adolescents and adults who have Tourette syndrome.

The Chicago biotech plans to kick off the trial this quarter and will target 90 sites across the US, Canada and Europe with a 220-patient trial, which the four-year-old drug developer claims would be the largest transatlantic trial ever for the central nervous system disorder, chief business officer Eric Messner told Endpoints News.