BrainCells

About BrainCells

BrainCells Inc. (BCI) was a San Diego-based biopharmaceutical firm, established in 2003 by a team that included Carrolee Barlow, Fred H. Gage, and Harry F. Hixson, Jr. The company ceased operations around January 2014. BCI focused on the drug discovery and development sector, specifically targeting treatments for central nervous system (CNS) diseases. Its core strategy revolved around the science of neurogenesis, the process of generating new neurons in the adult brain. The company's business model was centered on identifying and repositioning existing compounds that had already undergone some clinical testing, thereby aiming to accelerate the development timeline.

Leading the company as CEO was James A. Schoeneck, a veteran of the biopharmaceutical industry with previous leadership roles at companies like Centocor, Prometheus Laboratories, and ActivX BioSciences. His experience included the successful launch of major drugs like Remicade. Co-founder Carrolee Barlow, who served as Chief Scientific Officer and Chief Medical Officer, brought extensive expertise in neuroscience and neurodegeneration from her time at the Salk Institute and Merck Research Laboratories. The company's business operated by using a proprietary screening platform to test compounds for their neurogenic properties, with the goal of developing them for new indications, primarily in the realm of mood and anxiety disorders. This approach allowed BCI to in-license drug candidates from other pharmaceutical corporations.

A significant milestone for BrainCells was the initiation of Phase 2 clinical trials for its lead product candidates. One such candidate was BCI-540 (coluracetam), a compound in-licensed from Mitsubishi Pharmaceutical Corporation, which was investigated for treating major depressive disorder and generalized anxiety disorder. Another key asset was BCI-952, a combination of buspirone and melatonin, which showed promise in a proof-of-concept study for major depressive disorder by stimulating neurogenesis. The company also had other compounds in its pipeline, such as BCI-632 and its oral prodrug BCI-838, which were in early-stage development. To finance its research and clinical trials, BrainCells successfully raised a total of $52.8 million through several funding rounds, including a Series A commitment of $17.7 million, a Series B round that reached $50 million, and a final Series C round. Key investors included Bay City Capital, Oxford Bioscience Partners, and MedImmune Ventures.