Cerevance, a Cambridge, MA-based neuroscience company, raised $21.5m in Series A financing.
Founding backers included Takeda Pharmaceutical Company Limited (TOKYO:4502) and Lightstone Ventures, each joining Cerevance’s Board of Directors.
The company, which is funded with $36m in total funding, will use the capital to advance a pipeline of therapeutics into the clinic in parallel with scaling up a novel approach to brain diseases based on its new technology.
Led by Brad Margus, Chief Executive Officer, Cerevance is a neuroscience company focused on discovering and developing novel therapeutics for neurological and psychiatric disorders by using a new technology created in the Howard Hughes Medical Institute laboratory of Nathaniel Heintz, Ph.D. at the Rockefeller University.
Takeda will provide a 25-person neuroscience research team from its Cambridge, United Kingdom site, including industry veteran Mark Carlton, Ph.D., equipped laboratory space, and licenses to a portfolio of preclinical and clinical stage drug programs.