NeuShen Therapeutics Raises $80M Series B for CNS Therapies

NeuShen Therapeutics Secures $80M Series B

Shanghai-based clinical-stage biotechnology company NeuShen Therapeutics (纽欧申医药) has raised an $80 million Series B round, according to funding data dated September 3, 2026. The round was supported by a syndicate of investors including B Capital, Lilly Asia Ventures, Legend Capital, Jingwei Venture Partners, Zhenmai Investment, and Shanghai Guotou Xiandao Fund. No single lead investor was disclosed.

What NeuShen Does

Founded in 2022, NeuShen Therapeutics focuses on developing new therapies for psychiatric and neurological disorders. Its areas of interest include depression, schizophrenia, epilepsy, and other central nervous system (CNS) diseases. The company operates dual internal discovery platforms spanning small molecules and AAV-based gene therapy.

NeuShen's pipeline includes more than 10 novel compounds. Notable programs include:

• NS-041 — a KCNQ2/3 channel activator being developed for focal epilepsy and depression.
• NS-136 — an mAChR4 positive allosteric modulator targeting schizophrenia and Alzheimer-related psychosis.

Funding Details

• Round type: Series B
• Amount: $80,000,000
• Currency: USD
• Date: September 3, 2026
• Investors: B Capital, Lilly Asia Ventures, Legend Capital, Jingwei Venture Partners, Zhenmai Investment, Shanghai Guotou Xiandao Fund
• Lead investor: Not disclosed

The company is headquartered in Shanghai and remains clinical-stage, meaning its programs are still progressing through development rather than being commercially marketed.

Why This Matters for the CNS Space

CNS drug development is widely regarded as one of the more challenging areas in biotech, given the complexity of neurological and psychiatric conditions and the high failure rates historically associated with the field. NeuShen's approach combines two distinct modalities — small molecules and AAV-based gene therapy — which gives it multiple shots on goal across different mechanisms.

The presence of Lilly Asia Ventures among the investors is notable given its focus on life sciences investments in Asia. B Capital, Legend Capital, Jingwei Venture Partners, Zhenmai Investment, and Shanghai Guotou Xiandao Fund round out the syndicate, providing a mix of venture and institutional backing.

Acquisition Angle

For acquirers and strategic partners, NeuShen represents a clinical-stage asset with a diversified pipeline in an area where large pharma companies have shown sustained interest. The dual-platform approach — small molecules plus AAV gene therapy — could appeal to buyers looking to bolster their CNS portfolios with both traditional and next-generation modalities.

Key considerations for potential acquirers would include:

• Pipeline depth: More than 10 novel compounds, with NS-041 and NS-136 as the most advanced named programs.
• Platform breadth: Internal discovery capabilities across small molecules and AAV-based gene therapy.
• Geographic positioning: Shanghai headquarters, with a syndicate that includes both regional and international investors.
• Stage: Clinical-stage, indicating programs have moved beyond pure discovery.

The $80 million Series B provides capital to advance these programs further. As with any clinical-stage CNS company, value inflection will depend on clinical readouts and regulatory progress, but the funding round signals continued investor confidence in NeuShen's approach.

Summary

NeuShen Therapeutics has raised an $80 million Series B led by a syndicate including B Capital, Lilly Asia Ventures, Legend Capital, Jingwei Venture Partners, Zhenmai Investment, and Shanghai Guotou Xiandao Fund. The Shanghai-based company, founded in 2022, is developing therapies for psychiatric and neurological disorders using small molecule and AAV gene therapy platforms, with a pipeline of more than 10 compounds including NS-041 and NS-136.