Cerenis Adds $13.9M to C Round

Cerenis Therapeutics, a biotech based in Ann Arbor, MI and Toulouse, France, said today that it has raised an additional $13.9 million in its Series C funding round. The first closing of the round was announced in July. The new capital, which came from the investment group IRDI-IXO and undisclosed private investors, brings the Series C round to $69.7 million and the total amount the firm has raised to $162.9 million, according to the company and based on today’s exchange rate between the Euro and the U.S. dollar. The company plans to use the third-round financing to fund a Phase II trial of its lead drug, CER-001, for cardiovascular disease. Its previous investors include Ann Arbor’s EDF Ventures, France’s Fund for Strategic Investment, Sofinnova Partners, HealthCap, Alta Partners, TVM Capital, OrbiMed Advisors, and Daiwa Corporate Investment.

Author: Ryan McBride

Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News. Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont. View all posts by Ryan McBride