Cerecin, previously Accera, Inc., a Singapore-based brain health-focused pharmaceutical company, raised US$50M in the first close of an investment round.
This funding was composed of both equity investment and non-dilutive grants.
The round was led by new investor Wilmar Ventures Pte. Ltd., a wholly owned subsidiary of Wilmar International Limited, with co-investment from long-term investor Inventages, the life sciences and healthcare-focused private equity fund backed by the Nestle Group.
The company intends to use the funds for global drug development activities as well as the Asia Pacific launch of Axona®, a medical food for the dietary management of persons living with Alzheimer’s disease.
Founded in 2001 and led by Charles Stacey, President and CEO, Cerecin is a global healthcare company focused on developing brain health solutions and therapeutics for patients around the world. Its lead compound, tricaprilin, is intended to address the metabolic deficit that is known to be characteristic of Alzheimer’s disease by providing the brain with an alternative energy substrate. The company is currently preparing this newly reformulated compound for global pivotal studies.