Out of the Arena: With $56M round, spinout Longboard to house trio of neuroscience programs

With $56 million in fresh funding from a crossover syndicate, newly launched Longboard will develop three neuroscience programs spun out from Arena that share familiar targets with therapies previously developed by the parent company.

The syndicate, led by Farallon Capital Management, brings deep-pocketed investors into the fold for a company whose road map includes a potential IPO...