Novoron Biosciences Picks Up $3M

San Diego-based Novoron Biosciences, a biotech company that is developing therapies aimed at reversing central nervous system (CNS) damage due to spinal cord injuries, has raised $3M in a seed fudning round. The company came from Two Bear Capital. According to Novoron, the funding will go towards develping its lead drug candidate, which has the potential to both promote axonal regeneration and repair of the myelin sheath. The company says the funding comes on top of prior seed funding from Backstage Capital, as well as $3M in grant funding from the National Institutes of Health. Novoron is led by co-founder and CEO Travis Stiles, PhD.