Cerenis Therapeutics closes EUR50 million financing
Toulouse – French Cerenis Therapeutics has raised an additional EUR10 million in a second closing of its Series C financing, taking the total funds raised in the Series C to EUR50 million. The company said it will fund Phase II development of CER-001, an HDL-mimetic based on natural apolipoprotein A-I (ApoA-I), the major structural protein of HDL, for the treatment of cardiovascular disease. Additionally, the company will also support the development of other new HDL therapies. CER-001 is being developed to rapidly regress atherosclerotic plaque, and iscurrently targeted for patients with Acute Coronary Syndrome. CER-001 has shown strong preclinical and clinical efficacy in mobilizing cholesterol and promoting reverse lipid transport (RLT). Cerenis expects to demonstrate that this compound can rapidly remove large amounts of atherosclerotic plaque and thereby significantly reduce the risk of future cardiac events. A Phase I study of CER-001 for acute coronary syndrome (ACS) was completed and reported in May 2010, with the initiation of a phase II trial using intravascular ultrasound to assess plaque regression in post-ACS patients before the end of 2010.