Cerenis Therapeutics Raises €40M

Cerenis Therapeutics SA, a Toulouse, France and Ann Arbor, USA-based biopharmaceutical company specializing in the research and development of novel therapies based on the metabolism of High-density lipoprotein (HDL or “good cholesterol”) to treat cardiovascular and other metabolic diseases, has raised €40m in the first close of its series C financing.
In this round €20m came from the Fund for Strategic Investment (FSI) with an additional €20m coming from existing investors Sofinnova Partners, HealthCap, Alta Partners and TVM Capital, EDF Ventures, OrbiMed and DAIWA Corporate Investment.
This financing, which brings the total capital raised to date by the company to €107m, will fund Phase II development of the lead Cerenis program, CER-001, an HDL-mimetic for the treatment of cardiovascular disease and to support the development of other new HDL therapies.
In conjunction with this funding, Jean-Pierre Garnier, former CEO of GlaxoSmithKline, and Pierre Fabre Laboratories, will join Cerenis’ Board of Directors as a Non-Executive Director. They will be FSI’s representative on the board.

To finance the development of CER-001, the company, along with Groupe Novasep, a supplier of manufacturing solutions to the life sciences industries, has also received a €10.7m funding from the French Government funding (via OSEO).

FinSMEs
26/07/2010

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