Cerecin, a Singapore-based clinical-stage biotechnology company pioneering innovative neurotherapeutics, closed the first tranche of a Series IIB financing round.
The round was led by SK Securities and KNT Investment.
Led by CEO Dr Charles Stacey, Cerecin is a clinical-stage biotechnology company focused on developing drugs that target the metabolic bases of central nervous system diseases. Its development program leverages experience in neurology drug development and lipid science.
The company intends to use the funds to advance the current clinical studies of CER-0001 in migraine prevention and in infantile spasms (a rare form of pediatric epilepsy), finalize plans for a pivotal study of CER-0001 in Alzheimer’s disease, and build its pipeline of innovative products designed to address metabolic targets in neurological diseases.
The financing follows the completion of enrollment of the RELIEF pilot study of CER-0001 as an investigational therapy for migraine prevention. The study enrolled 83 patients in Australia. The company is due to announce topline data later this month with a presentation at a scientific meeting. Cerecin continues to enroll patients in a pilot study in infantile spasms that has recently been expanded to include new clinical trial sites in Australia and Singapore.
Cerecin closed a USD $40 million Series II and IIA Round in the 4th quarter of 2021 following a cornerstone investment made by long-term investor, Nestlé. The Series IIA was led by SK Securities, Hana Financial Investment, and Partners Investment. The company is supported by two multinational partners, Nestlé S.A. (NSRGY), and Wilmar International Limited.