CeNeRx BioPharma, Inc., a Cary, NC-based clinical stage company developing and commercializing innovative treatments for diseases of the central nervous system (CNS), completed a $13m Series C financing.
Existing investors Perseus Soros Biopharmaceutical Fund, L Capital Partners and Pappas Ventures all participated in the financing.
CeNeRx will use the capital to conduct a Phase II trial of its improved formulation of its novel antidepressant TriRima™.
The company’s CNS pipeline also includes:
– clinical-stage hypothalamic-pituitary adrenal (HPA) axis modulators for the treatment of a variety of CNS disorders including anxiety and depression;
– a small molecule, orally active agent for the prevention and treatment of neuropathies and neurodegenerative disorders;
– a series of selective cannabinoid compounds that have recently completed successful preclinical proof-of-concept studies for the treatment of pain, glaucoma and spasticity.