Cerebral Therapeutics, an Aurora, Colo.-based clinical stage company, closed a $7.8m extension Series A financing.
Backers included Granite Point Capital Management and Vivo Capital.
This brings the total Series A investment to $11m.
Led by Dan Abrams, M.D., CEO, Cerebral Therapeutics is developing reformulated medications, which by-pass the blood brain barrier using chronic implantable infusion systems, in order to improve the lives of patients with medically refractory epilepsy.
The company is currently conducting a proof of concept study in adult patients at Australia’s University of Melbourne using its proprietary formulation of an anti-epileptic drug delivered via direct intracerebroventricular (ICV) administration. This proof of concept study has demonstrated potentially enhanced efficacy and reduced toxicity in patients with medically refractory epilepsy.
Proceeds from the financing will be used to file an IND with the U.S. Food and Drug Administration (FDA) to initiate a Phase 2 clinical trial.