Life sciences firm Promentis Pharmaceuticals raises $2.9m to develop drugs targeting schizophrenia and other central nervous system disorders.

Promentis Pharmaceuticals, a spin-out from the universities of Marquette and Wisconsin-Milwaukee, has secured $2.9m in funding.

Germany-based investment firm Black Horse Investments led the round, which was joined by angel network Golden Angels Investors and private investors. The Milwaukee-based firm previously held a series A round, led by Golden Angels, which was worth $1.94m. It has also attracted $1.8m from the National Instititues of Health, and a further $299,000 from the research foundation of actor Michael J. Fox, who suffers from Parkinson’s disease.

Promentis, founded in 2007, is developing treatments for schizophrenia and other central nervous system disorders. It plans to use the funding to get its two main compounds into clinical trials in the next two years.