Cerecin closes Series IIB financing to advance CER-0001 clinical programs and build pipeline in neuro-metabolism drug development
Summary
The funds raised will be used to advance the current clinical studies of CER-0001 in migraine prevention and in infantile spasms (a rare form of pediatric epilepsy), finalize plans for a pivotal study of CER-0001 in Alzheimers disease, and build Cerecins pipeline of innovative products designed to address metabolic targets in neurological diseases.We are delighted to have the support of new and existing investors who share in Cerecins vision to build a portfolio of innovative products that target the metabolic basis of neurological disease. This investment reflects increasing interest in this new frontier of neuroscience and the industrys impetus for novel targets, said Dr Charles Stacey, President and CEO of Cerecin. Cerecin is on the right path.Cerecin closed a USD $40 million Series II and IIA Round in the 4th quarter of 2021 following a cornerstone investment made by long-term investor, Nestl\xe9. The Series IIA was led by SK Securities, Hana Financial Investment, and Partners Investment.Cerecin is a clinical-stage biotechnology company focused on developing drugs that target the metabolic bases of central nervous system diseases. Cerecin undertakes no obligation to update forward-looking statements if circumstances or managements estimates or opinions should change except as required by applicable securities laws.