Take a break from raking leaves and putting up your Halloween decorations and catch up on the latest news from Wisconsin’s innovation community:
—Milwaukee-based Promentis Pharmaceuticals raised nearly $8.8 million in equity financing from eight investors, according to a document filed with federal securities regulators. Reached by phone, Promentis president and CEO Chad Beyer declined to comment on his company’s plans for the money it raised as part of the Series C funding round.
Promentis is developing molecules that are designed to modify brain chemistry to treat central nervous system disorders, such as schizophrenia and Parkinson’s disease. The company, which was founded in 2007, raised $2.9 million in a Series B financing round in 2014. Last year, Promentis signed an exclusive licensing deal with the University of Montana, in which the company agreed to ship some of its compounds to the university to have them tested there. Read the full story here.