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Cerenis Raises €10 Million To Close €50 Million Financing

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CBS Detroit (con't)

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Cerenis Therapeutics, a pharma startup researching new cardiovascular therapies based on HDL, the so-called good cholesterol, said 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.

Cerenis is based in Toulouse, France and has operations in Ann Arbor.

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, 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.

Said Jean-Louis Dasseux, co-founder and CEO of Cerenis: “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.

More at www.cerenis.com.

(c) 2010, WWJ Newsradio 950. All rights reserved.

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