Mentara Therapeutics has launched as a new neuropsychiatry company backed by SPRIM Global Investments and acquired MTA-304, a Phase 2-ready PDE10A inhibitor, from EuMentis Therapeutics. The compound was previously known as EM-221.
Mentara plans to advance MTA-304 into a Phase 2 clinical study for levodopa-induced dyskinesia in Parkinson’s disease during the first half of 2027.
MTA-304 is a highly selective, second-generation PDE10A inhibitor.
Levodopa remains a widely used treatment for Parkinson’s disease, but Mentara said approximately 40% to 50% of patients receiving long-term therapy develop involuntary and uncontrolled movements known as dyskinesia within four to six years.
Amantadine extended release is currently the only FDA-approved treatment specifically for levodopa-induced dyskinesia, according to the company.
MTA-304 has completed three Phase 1 studies involving 86 subjects, which Mentara said demonstrated a favorable safety and tolerability profile.
In a non-human primate model of levodopa-induced dyskinesia, the compound reduced dyskinesia by 40% without reducing levodopa’s benefit. Mentara also said MTA-304 outperformed amantadine in a rat model.
Mentara CEO Frank Stonebanks previously led EuMentis for approximately 18 months and has more than 25 years of biotechnology operating and venture capital experience.
He previously served as Chairman and CEO of Renibus Therapeutics, where he raised more than $140 million and advanced the company’s lead program into Phase 3, and founded Triphase, which was acquired by Celgene.
Under the asset acquisition agreement, EuMentis shareholders will become shareholders of Mentara.
Financial terms were not disclosed.
KEY QUOTES:
“People with Parkinson’s shouldn’t have to trade symptom control for dyskinesia. MTA-304 has a clean Phase 1 package and strong preclinical data in LID. With a dedicated company and initial investors behind it, we can move quickly to answer the question that matters to patients in Phase 2.”
Frank Stonebanks, CEO of Mentara Therapeutics
“We are thrilled to back Mentara Therapeutics. They have the right people and the right product at the right time.”
Dr. Michael Shleifer, Co-Founder and Managing Partner of SPRIM Global Investments
