Top venture capital backed company in Delaware betting on mental health drug

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An Israeli company with its headquarters in Wilmington is listed as Delaware’s most valuable venture capital-backed company.

Pitchbook placed NeuroRx in a 50-state listing of most valuable venture capital-backed companies within the 50 states.

Venture capital comes from firms that seek out companies with the potential for rapid growth. VC financing has been widely used in California’s Silicon Valley, but is also a key component in high-risk pharmaceutical startups.

NeuroRx is developing a drug that could be used in treating suicidal depression. According to Pitchbook, the company is valued at $91 million and has between one and ten employees.

The valuation pales in comparison toUber, the San Francisco-based ride sharing app company that has scooped up more than $70 billion in venture capital.

Given the size of the investments, the lasting success of Uber is seen as important to the future of the use of venture capital in funding.

Smaller states typically have smaller venture capital-backed companies. For example, South Dakota’s top VC-backed start up received less than $10 million in funding.

Click on the headline below for an earlier story on NeuroRx.

NeuroRX drug that aims to treat suicidal depression gets fast track status

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