Business

Sage Therapeutics secures $20m to accelerate development of drugs to treat central nervous system diseases

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Sage Therapeutics, a Cambridge-based biopharmaceutical company developing medicines to treat central nervous system diseases, announced Wednesday a $20 million Series B financing from investors Arch Venture Partners and Third Rock Ventures, bringing the total raised to $57.8 million since launch in 2011.

Robert Nelsen, cofounder and managing director of Arch Ventures, will join the Sage board of directors, the company said in a press release.

According to Nelsen, Sage’s “approach to restoring the natural balance of brain activity has the potential to address a number of debilitating CNS disorders, including traumatic brain injury, Fragile X, depression, and pain, where there is a dire need for better therapies.”

Chris Reidy can be reached at reidy@globe.com.
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