Newron Secures EUR 38 Million to Advance Schizophrenia Drug Evenamide

Funding will support global Phase III ENIGMA-TRS studies of evenamide as potential first add-on therapy for treatment-resistant schizophrenia.

Published on Feb. 17, 2026

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Newron Pharmaceuticals, a biopharmaceutical company focused on central and peripheral nervous system treatments, has secured up to EUR 38 million in funding to advance the development of its lead compound evenamide, a first-in-class glutamate modulator being evaluated as an add-on therapy for treatment-resistant schizophrenia (TRS). The funding will support the global ENIGMA-TRS Phase III program, including two pivotal studies expected to report 12-week results by the end of 2026.

Why it matters

Evenamide represents a novel approach to addressing the significant unmet need for new treatment options for the estimated 15-50% of schizophrenia patients who are resistant to currently available antipsychotic medications. The funding will enable Newron to continue the clinical development of evenamide, which has shown benefits in improving symptoms in TRS and poorly responding schizophrenia patients in studies to date.

The details

Under the agreement, a group of existing and new European and Asian investors will initially subscribe to up to 779,624 newly issued Newron shares at EUR 19.24 per share, providing EUR 15 million. Additional tranches of EUR 11 million and EUR 12 million will be triggered by progress of the ENIGMA-TRS studies and disclosure of positive results, respectively. The funding is expected to extend Newron's operational runway beyond the upcoming 12-week data readout from the two ENIGMA-TRS pivotal trials.

  • The ENIGMA-TRS 1 study was initiated in August 2025.
  • The ENIGMA-TRS 2 study was initiated in December 2025.
  • The 12-week results from the ENIGMA-TRS 1 and 2 studies are expected in Q4 2026, no later than November 30, 2026.

The players

Newron Pharmaceuticals S.p.A.

A biopharmaceutical company focused on the development of novel therapies for patients with diseases of the central and peripheral nervous system.

Roberto Galli

The CFO of Newron.

evenamide

Newron's lead compound, a first-in-class glutamate modulator with the potential to be the first add-on therapy for treatment-resistant schizophrenia.

ENIGMA-TRS

Newron's global pivotal Phase III development program for evenamide, consisting of the ENIGMA-TRS 1 and ENIGMA-TRS 2 studies.

treatment-resistant schizophrenia (TRS)

A condition affecting an estimated 15-50% of schizophrenia patients who show little to no response to currently available antipsychotic treatments.

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What they’re saying

“The investment by this group of existing and new shareholders is further validation of our development strategy for evenamide as the potential first add-on therapy in schizophrenia and as a new treatment option for the vast majority of patients who are poorly responding or resistant to available treatment options.”

— Roberto Galli, CFO of Newron

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This financing will enable Newron to advance the clinical development of evenamide, a novel glutamate modulator that represents a promising new approach to addressing the significant unmet need for effective treatments for patients with treatment-resistant schizophrenia.