Clene Nanomedicine, Inc., a Salt Lake City, UT-based clinical-stage biopharmaceutical company focused on the development of nanocatalysts for the treatment of bioenergetic failure associated with neurodegenerative diseases, raised $42.5m in Series D equity financing.
The backers were not disclosed.
The company intends to use the funds to advance its clinical pipeline—particularly the lead nanocatalyst, CNM-Au8—an orally administered therapeutic under investigation for the neurorepair of various neurodegenerative diseases including multiple sclerosis, Parkinson’s disease, and ALS, with one Phase 3 trial and four Phase 2 studies ongoing.
Founded in 2013 by Rob Etherington, President and CEO, Clene Nanomedicine is a clinical-stage biopharmaceutical company focused on the development of therapeutics for neurodegenerative diseases. Clene has innovated a novel nanotechnology drug platform for the development of a new class of orally-administered neurotherapeutic drugs. Clene has also advanced into the clinic an aqueous solution of ionic zinc and silver for anti-viral and anti-microbial uses.
The company has R&D and manufacturing operations located in North East, Maryland.