Chase Pharmaceuticals, a Washington, DC-based early stage drug development company, raised $21m in Series B financing.
The round was led by New Rhein Healthcare Investors, LLC, with participation from new investors Edmond de Rothschild Investment Partners and Cipla Ventures, the new venture capital arm of Cipla Pharmaceuticals, and existing investor Brain Trust Accelerator Fund. In conjunction with the funding, Greg Parekh, PhD, a partner at New Rhein, will serve as Chase’s Chairman of the Board. In addition, Raphaël Wisniewski of Edmond de Rothschild Investment Partners and Vikram Sudarsan, PhD, of Cipla New Ventures will join the board.
The company intends to use the capital to fund Phase 2a and Phase 2b clinical trials of its lead product.
Founded in 2007 by Thomas Chase, MD, former Scientific Director, National Institute of Neurological Disorders and Stroke (NINDS) and Kathleen Clarence-Smith, MD, PhD, former head of CNS development at Sanofi, Roche and Otsuka, and led by newly appointed John M. Siebert, PhD, Chase focuses on pharmaceuticals for Alzheimer type dementia, include oral medications such as its lead product, CPC-201, as well as CPC 252 for transdermal administration.
FinSMEs
12/05/2014