Pittsburgh’s Knopp NeuroSciences raising $12.5 million for ALS drug

Knopp NeuroSciences, which is rapidly developing a drug to treat ALS, is raising $12.5 million, according to a filing with the Securities and Exchange Commission. The company’s drug earlier this month received Fast Track designation by the U.S. Food & Drug Administration. That designation could speed approval of the drug, an oral medication called KNS-760704. It already has orphan drug status in both the United States and Europe. Knopp will present data from a recently completed Phase 2 trial in December in Berlin, Germany. The company has raised $27 million to this point and will raise this next round of money through equity and warrants, according to the SEC.

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