Cerevance, a Boston, MA-based company focused on developing precision novel therapeutics for central nervous system (CNS) diseases, raised $47M in Series B-1 Extension.
The round was led by Agent Capital, Bioluminescence Ventures, and Double Point Ventures, with participation from new investors MQB Partners and LifeRock Ventures and existing investors Gates Frontier, GV (Google Ventures), and Lightstone Ventures. In conjunction with the financing, Campbell Murray, MD, MPP, MBA, Partner at Agent Capital and Kouki Harasaki, Ph.D., MBA, Founder and Managing Partner at Bioluminescence Ventures, have joined the Cerevance Board of Directors.
Proceeds from this financing will support the upcoming Phase 3 clinical trial for CVN424, a first-in-class non-dopamine therapy for patients with Parkinson’s disease, as well as the advancement of a pipeline of novel treatments for other CNS disorders, including Alzheimer’s disease, Amyotrophic lateral sclerosis, and frontotemporal dementia.
Led by CEO Craig Thompson, Cerevance is advancing a pipeline of clinical and preclinical programs, including the lead program, CVN424, an oral, non-dopaminergic compound acting on a novel target (GPR6). Currently undergoing Phase 2 evaluation as a monotherapy for patients with early Parkinson’s disease yet to receive any Parkinson’s medications, CVN424 holds promise in alleviating motor fluctuations more effectively than existing oral therapies and in potentially improving non-motor symptoms without the adverse effects associated with current treatments. In parallel, Cerevance is advancing CVN293 which targets KCNK13 for the potential treatment of neurodegenerative conditions such as Amyotrophic lateral sclerosis, Alzheimer’s disease, and frontotemporal dementia.
FinSMEs
25/04/2024