Cerenis Therapeutics Completes $30 Million Series A Financing
ANN ARBOR, Michigan - EDF Ventures today announced the successful completion of $30 Million in venture funding to Cerenis Therapeutics, a pharmaceutical research and development company created in March 2005. The international financing was led by Sofinnova Partners (France), co-led by HealthCap Venture Capital (Sweden), and included Alta Partners (United States), EDF Ventures (United States) and NIF (Japan).
Cerenis has the objective of discovering, developing and commercializing breakthrough HDL-related drugs for the treatment of cardiovascular and metabolic diseases. HDL, known as the good cholesterol, facilitates the removal of excess cholesterol from the body, and is an important target area for new therapeutic agents.
Mary L. Campbell, general partner of EDF Ventures said, "This is a large and rapidly growing unmet market need, excellent science, business-development acumen, fully capitalized by a great team of investors, and an experienced team that has worked together before. It simply does not get any better than this."
The Company's founder, CEO and President, Dr. Jean-Louis Dasseux, PhD, MBA, is a pioneer of the HDL field, with over 45 patents. He was previously Vice President of Chemistry and Technologies at Esperion in Ann Arbor. Commenting on the transaction, Dr. Dasseux stated, "We are very happy to have received such strong global finanancial support to start Cerenis. We look forward to bringing the HDLrelated therapies to the market as a treatment option for millions of people with cardiovascular disease." The other members of Cerenis' founding team include William Brinkerhoff, Chief Operating Officer and Maritza Oxender, Vice President, Development and Operations.
The funding will be used to establish the Company's internal and external R&D programs. Cerenis plans to build a world class organization bringing together experts from around the world focusing on breakthrough approaches to HDL therapeutics. Its facilities will be located in Toulouse, France and Ann Arbor, Michigan.
About Cerenis Therapeutics www.cerenis.com
Cerenis Therapeutics is a pharmaceutical company focused on the discovery, development and commercialization of breakthrough HDL-related therapies for the treatment of cardiovascular and metabolic diseases. Based on breakthrough research in HDL therapy, Cerenis is pursuing a range of HDL product candidates that reflect significant commercial opportunities in the treatment of atherosclerosis. High-density lipoprotein (HDL), also known as "good" cholesterol, is the primary vehicle for removal of excess cholesterol from the body through a process known as "reverse lipid transport." HDL is an important target area for new therapeutic agents to treat cardiovascular disease, which is the leading killer of men and women in industrialized nations.
Mary L. Campbell
734.663.3213 ext. 307
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