USA – Cerebral Therapeutics, an Aurora, CO-based clinical-stage pharmaceutical company, raised $40M in Series C funding.
The round was led by Lynx1 Capital Management with participation from RA Capital Management, Perceptive Advisors, Vivo Capital LLC, and Granite Point Capital Management L.P. In conjunction with the financing round, Weston Nichols, Ph.D., Managing Partner of Lynx1 Capital Management and Tim Scannell, former President and COO of Stryker, will join the Board of Directors.The company intends to use the funds to complete an international Phase 2 double-blind, randomized, placebo-controlled clinical trial of its proprietary investigational drug (CT-010) for the treatment of uncontrolled seizures in patients with medically refractory epilepsy, and to support Phase 3 readiness, and to advance its ICV therapies pipeline including internal programs and collaborations with leading biopharmaceutical companies.Founded by experts in the fields of neuroscience, neurosurgery, and drug delivery and led by Dan Abrams, M.D., Chief Executive Officer, Cerebral Therapeutics is a clinical-stage biopharmaceutical company dedicated to developing innovative therapies for refractory neurological diseases. The company is pioneering intracerebroventricular (ICV) therapies for people with neurological diseases. Its investigational drug therapies and companion biomarker strategies are enabled by its proprietary technology that enables precise targeted delivery to the central nervous system.Cerebral Therapeutics uses a proprietary implanted infusion system to deliver continuous doses of CT-010 intracerebroventricularly (ICV). This novel drug-device combination treatment is intended to increase targeted drug brain exposure thereby maximizing efficacy, reducing systemic drug exposure, and improving safety while enhancing therapy adherence.28/06/2022
