Neuroscience company closes $45M round: Alto Neuroscience closed an oversubscribed $45 million Series C, led by InVivium Capital, it announced Tuesday. New investors included Franklin Templeton and Eli Lilly, and current investors also chipped in. The drugmaker now has a board observer, and InVivium’s Michael Liang joined Alto’s board. The company plans to use the funding to support two treatments it’s developing for major depressive disorder, with four Phase II trials expected to read out by early 2025. Earlier this year, Alto raised $25 million from Alpha Wave Ventures in a Series B extension.
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