Cerebral Therapeutics, Inc., an Aurora, Colo.-based clinical-stage company focused on implanted drug-device combination therapies to improve the lives of patients with uncontrolled neurological diseases, closed a $3m Series A financing.
The round was led by institutional investors Granite Point Capital Management, L.P., and Vivo Capital, LLC.
Led by Dan Abrams, M.D., CEO, Cerebral Therapeutics is a clinical-stage company dedicated to improving the lives of patients living with uncontrolled neurological diseases, with an initial focus on refractory epilepsy. The company is developing long-term implanted drug-device combination therapies that bypass the blood-brain barrier to deliver optimal doses of specially formulated neurological therapeutics directly into the target region of the brain.
Cerebral Therapeutics is currently exploring direct intracerebroventricular (ICV) administration of a proprietary formulation of an anti-epileptic drug to potentially enhance efficacy and reduce toxicity in adult patients with refractory epilepsy.
In conjunction with the financing, Warren Lammert, Founder and Chief Investment Officer of Granite Point Capital and former Chairman of The Epilepsy Foundation; Mahendra G. Shah, Ph.D., Managing Director at Vivo Capital; and Stephen J. Farr, Ph.D., Co-Founder, President and CEO of Zogenix, have joined the board of Cerebral Therapeutics. Andre Cheng, M.D., Ph.D., a serial medical entrepreneur and Partner and Portfolio Manager at Granite Point Capital will join as a Board Observer.