That payout depends on the company hitting key milestones in the pre-clinical and clinical development of the drug. Proniras also received an undisclosed amount of launch funding from firms including Alexandria Venture Investments, ARCH Venture Partners, Eli Lilly and Company and Johnson & Johnson Innovation.
Proniras will be led by its Co-founder and Chief Scientific Officer Chris Toombs, formerly the co-founder and CSO of Seattle biotech company Faraday Pharmaceuticals. Accelerator will maintain executive control over the company.
“Treatment of seizures that result from either physiologic or pharmacologic stimuli is suboptimal for many patients,” Toombs said in a press release. “A robust body of clinical and preclinical data supports the potential utility of tezampanel as a novel therapy for seizures and seizure disorders. We believe that tezampanel could address significant unmet need for a safe, effective and durable seizure therapy.”
In conjunction with BARDA, the company will also develop tezampanel as a potential antidote to deadly nerve agents, a class of chemical weapons. Traces of a nerve agent were found after a suspected chemical attack in Syria earlier this month..
The committee voted along party lines in March to formally close the Russia investigation, after just more than one year. Democrats have continued to press ahead with their own investigation, which included an interview just this week with Cambridge Analytica whistleblower Christopher Wylie.
“Republicans chose not to seriously investigate — or even see, when in plain sight — evidence of collusion between the Trump campaign and Russia, instead adopting the role of defense counsel for key investigation witnesses,” Rep. Adam Schiff, the committee’s top Democrat, said in a statement. “There is no denying the abundant evidence that the Trump campaign sought, and was eager to accept, the assistance of a hostile foreign power bent on interfering in our election.”
The final report, drafted by the Republican majority, does criticize some Trump campaign officials for taking “ill-advised” meetings with Russians, some with links directly to the Kremlin. It acknowledges that Donald Trump Jr., Jared Kushner and Paul Manafort expected to receive “but did not ultimately obtain” information from a Kremlin-linked lawyer that could damage the Clinton campaign. It also notes that Donald Trump Jr. “briefly met” a Russian government official at National Rifle Association conference, but says there was “no evidence” that they discussed the presidential election.
The report does strongly criticize the Obama administration for in its view failing to adequately confront Russian efforts to meddle in the U.S. election. It also repeats charges of a memo drafted by Nunes that the Justice Department misled a judge in its effort to obtain a secret surveillance warrant on Carter Page, a Trump foreign policy aide..