Healthcare Industry News: metabolic disease
News Release - October 21, 2010
Cerenis Therapeutics raises additional 10 million to close 50 million Series C financingTOULOUSE, France & ANN ARBOR, MI--(Healthcare Sales & Marketing Network)-- Cerenis Therapeutics (Cerenis), a biopharmaceutical company specializing in the research and development of novel therapies based on HDL (good cholesterol) to treat cardiovascular and other metabolic diseases, announced today it has raised a further 10 million in a second close of its Series C financing. This takes the total funds raised in the Series C to 50 million and the total equity investment raised to date by the Company to 117 million.
The latest 10 million came from the group IRDI-IXO (2.5 million each) and undisclosed international private investors. These investors join an impressive shareholder base alongside first close new investor, Strategic Investment Fund (FSI), which invested 20 million, and all historic investors: Sofinnova Partners, HealthCap, Alta Partners, TVM Capital, EDF Ventures, OrbiMed and DAIWA Corporate Investment who invested the remaining 20 million. The first close was announced in July this year.
Jean-Louis Dasseux, co-founder and CEO of Cerenis said: "We are delighted to close this additional Series C financing. Cerenis is now well positioned to continue its growth and HDL program development.
This financing will fund Phase II development of the lead Cerenis program, CER-001, an HDL-mimetic for the treatment of cardiovascular disease; it will also support the development of other new HDL therapies. Overall, the investment supports Cerenis objective to bring major innovative breakthroughs to one of the main areas of need in human health.
CER-001, Cerenis lead product, is being developed to rapidly regress atherosclerotic plaque, and is currently targeted for patients with Acute Coronary Syndrome. CER-001 has the potential to be the first and best in class recombinant HDL mimetic and a novel approach to treating cardiovascular disease and atherosclerosis, which remains the leading cause of death and morbidity worldwide.
Cerenis Therapeutics is a pharmaceutical company focused on the discovery, development and commercialization of breakthrough HDL therapies for the treatment of cardiovascular and metabolic diseases. Based on pioneering research conducted by Cerenis' team of world leaders in HDL therapy, the company is pursuing a range of HDL product candidates that are positioned to represent major advances in patient care and significant commercial opportunities in the treatment of cardiovascular and metabolic diseases. Cerenis has raised over 117 million in venture financing and has operations in Toulouse, France and Ann Arbor, Michigan.
For more information please visit: www.cerenis.com.
About IXO Private Equity and IRDI
IXO Private Equity is a private equity firm managing FCPR and FIP and advises IRDI. IXO invests in Venture Capital, LBO and Capital Development. Founded 30 years ago and located in Toulouse, IXO is the most important French regional independent actor in private equity managing 300 m. It invests from 0,5 m to 10 m by target company in the West and South of France.
Source: Cerenis Therapeutics
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