Cereius, Inc., a Durham, NC-based biotechnology company developing novel approaches to treat solid tumor brain metastases, closed a $6.75m financing.
The financing includes:
– a $6.5M Series A round led by BioInnovation Capital, and includes several individual investors, and
– a $250k loan from the North Carolina Biotechnology Center.
In conjunction with the financing, Eric Linsley and Susie Harbouth, General Partners at BioInnovation Capital will join Cereius’ Board of Directors. Additionally, William Hawkins, Chairman of the Board of Immucor and BioVentus and former CEO of Medtronic, has agreed to join the Board.
Founded in 2017 by Dr. Michael Zalutsky, Professor of Radiology, Radiation Oncology and Biomedical Engineering at Duke University, and Dr. Kimberly Blackwell, Vice President, Early Phase Development and Immuno-oncology at Lilly Oncology and adjunct Professor of Medicine, Duke University, and led by Ed Field, CEO, Cereius develops novel approaches to treat solid tumor brain metastases.
The company’s intellectual property includes next-generation radiolabeling chemistries developed by Dr. Zalutsky and exclusively licensed from Duke University. Its novel radiolabeling chemistries increase the uptake and retention of radionuclides in the target tumor while minimizing uptake by normal tissues, enhancing the therapeutic index and diagnostic contrast of targeting agents.