Tortugas Neurosciences raised $106 million across seed and Series A rounds to develop oral small-molecule candidates for multiple CNS disorders. The company plans to complete Phase II work for two lead candidates while advancing a portfolio sourced through in-licensing agreements from Eisai and Hansoh. Tortugas’ pipeline includes oral once-daily programs aimed at schizophrenia, tinnitus, focal epilepsy, and reversible encephalopathies, with programs designed around differentiated mechanisms of action. CEO Jeff Jonas described the funding as providing operational runway and allowing parallel advancement across indications, including plans to test an integrated PDE9 inhibitor strategy across encephalopathy types. The investment was co-led by major life sciences investors including Cure Ventures for the seed and The Column Group and AN Venture Partners for the Series A, signaling continued appetite for mechanistically differentiated CNS small molecules. In a crowded CNS landscape where late-stage attrition remains common, the financing supports a multi-asset execution plan built around clinical trial derisking and a focus on regulatory paths tied to clear patient populations.