Cerenis Therapeutics Completes $53.5 Million Series B Financing
Ann Arbor, Michigan -- (November 13, 2006) -- EDF Ventures today announced the successful completion of $53.5 million in venture funding to Cerenis Therapeutics, a pharmaceutical research and development company created in March 2005. The financing was led by TVM Capital, an international venture capital firm and one of the largest technology and life sciences investors in Europe, joined by OrbiMed of the U.S. and included significant participation by all of the Series A investors: Sofinnova Ventures, HealthCap Venture Capital, Alta Partners, and NIF Partners as well as EDF.
Cerenis is developing breakthrough HDL-related drugs for the treatment of cardiovascular and metabolic diseases. HDL, commonly referred to 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, “The excellent management team assembled by Cerenis has made remarkable progress since the completion of its Series A round in the late summer of 2005. Scientific results to date are very promising, and our enthusiasm for this investment continues to grow.”
The Company’s founder, CEO and President, Dr. Jean-Louis Dasseux, PhD, MBA, is a pioneer in the HDL field. He was previously Vice President of Chemistry and Technologies at Esperion in Ann Arbor, Michigan (purchased by Pfizer Inc. for $1.3 billion in February 2004). Commenting on the recent round, Dasseux stated, “We were delighted to have funding offered to Cerenis by an investor with the excellent reputation of TVM. It is further evidence of the global support for the important work our company is doing.” Chief Operating Officer, Bill Brinkerhoff, echoes that sentiment and adds “This financing positions us well to continue the work of our multiple therapeutic programs. We look forward to bringing HDL-related therapies to the market as a treatment option for the millions of people with cardiovascular disease.”
As a result of this round of financing, Katya Smirnyagina, PhD., Venture Partner of Alta Partners joined the Company’s Board of Directors as did Dr. Alexandra Goll of TVM Capital. The funding will be used to continue the Company’s product development programs. Cerenis’s facilities are located in Ann Arbor, Michigan and Toulouse, France.
About EDF Ventures® www.edfvc.com
EDF Ventures (www.edfvc.com) is a leading venture capital firm focused on early-stage investments in healthcare and information technologies. With offices in Ann Arbor, Michigan and San Diego, California, the firm focuses its investments on companies based in the Midwest and Southern California—markets that have historically been underserved by the venture capital industry. A hands-on and active investor, the firm’s healthcare investments include healthcare technologies, pharmaceuticals, medical devices and diagnostics. The firm’s information technology investments focus on mobile solutions, security solutions, data management solutions and IP-based communications and network solutions.
About Cerenis Therapeutics www.cerenis.com
Cerenis Therapeutics is a pharmaceutical company focused on the discovery, development and commercialization of 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 Extn. 307
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