Developer · China

NeuShen Therapeutics

Clinical-stage global biotechnology company focused on neurological and psychiatric disorders, with R&D centers in Shanghai, China and the Boston area (Lexington, Massachusetts). Founded and led by Dr. Joan Huaqiong Shen (CEO). Lead asset is NS-136, a selective muscarinic M4 receptor positive allosteric modulator in Phase 2 for schizophrenia, with an FDA-cleared IND for Phase 2 in agitation in Alzheimer's disease; the pipeline also includes NS-041, a selective KCNQ2/3 activator with an NMPA-approved IND. Venture-backed: ~$20M pre-A (2022, led by Lapam Capital), Series A (2025), and a Series A+ round completed January 2026 led by Lilly Asia Ventures with Pivotal bioVenture Partners and existing investors.

neushen.com ↗

1compound
1program
1indication
Phase 2lead asset

Phase distribution

  • Phase 21

Modality

  • Small molecule 1

Mechanism focus

Pipeline (1)

Deals & partnerships

  • Jan 28, 2026FinancingNeuShen Therapeutics completes Series A+ financing led by Lilly Asia VenturesNeuShen Therapeutics announced completion of a Series A+ round led by Lilly Asia Ventures, with participation from Pivotal bioVenture Partners and existing investors including Shanghai Healthcare Capital, Lapam Capital, and TTM Capital (amount undisclosed). Proceeds fund preclinical and clinical development of the company's CNS pipeline; the announcement highlighted that lead asset NS-136 has advanced into Phase 2 clinical development.NS-136source ↗

Catalysts · 1 upcoming

  • November 2026Anticipated

    NS-136forSchizophreniaRegistry results

    ClinicalTrials.gov estimated primary completion of the Phase 2 study of NS-136 (80 mg and 120 mg QD vs placebo) in acute schizophrenia (primary endpoint: PANSS total score at week 5): November 2026 (estimated study completion December 2026).

    NCT07521683source ↗

Recent activity

  • Oct 20, 2025Phase changeNS-136·SchizophreniaPhase 2Phase 2 NS136SZ201 (NCT07521683) started per ClinicalTrials.gov (actual start date 2025-10-20); the sponsor announced the first patient dosed on 2025-11-19. Randomized, double-blind, placebo-controlled, multi-center study in acute schizophrenia in China (~150 patients; NS-136 80 mg QD, 120 mg QD, or placebo for 5 weeks; primary endpoint PANSS at week 5), led by Dr. Gang Wang, Beijing Anding Hospital. The same announcement stated Phase 1 had completed in China and Australia with a favorable safety and PK profile.source ↗
  • Apr 30, 2024Phase changeNS-136·SchizophreniaPhase 1First-in-human Phase 1 NS136HV101 (NCT06345703) started per ClinicalTrials.gov (actual start date): randomized, double-blind, placebo-controlled SAD/MAD plus open-label food-effect study in 76 healthy subjects, sites at CMAX Clinical Research (Adelaide, Australia) and Chengdu Xinhua Hospital (China). NeuShen announced first healthy volunteer dosed in Australia in a release carried on PR Newswire 2024-05-08; an IND had previously been submitted to China's NMPA.source ↗

Trials recruiting · 1 recruiting of 2 sponsored

  • Phase 2NS-136n=1501 site · China

    A Phase II Clinical Study to Evaluate the Efficacy and Safety of NS-136 in the Treatment of Schizophrenia

    Schizophrenia (Acute)NCT07521683 ↗

Competitive landscape

Other companies developing against NeuShen Therapeutics's targets or indications.