Biotech startup CeNeRx BioPharma, Inc., completes $18.5 million in series A financing. The round was led by the Perseus-Soros BioPharmaceutical Fund, with active participation from L Capital Partners, A.M. Pappas & Associates and Wistar Morris. The bio-pharmaceutical company focuses on developing new therapeutics for disorders of the central nervous system.
CeNeRx’s first series of compounds are RIMAs (reversible inhibitors of monoamine oxidase) designed to treat depression and
anxiety. The series A financing positions CeNeRx to advance critical research and development with ample reserves to support its future
business growth initiatives.
“We are delighted to be working with top-tier life science investors to acquire, develop and license medicines for treatment of
diseases that relate to the nervous system,” said Barry Brand, a former GlaxoSmithKline vice president and now CEO of CeNeRx.
Unlike two major classes of existing antidepressants (MAOI and SNRI), RIMA compounds work on all three neurotransmitters
in the body and block degradation and ultimately increase levels of the three key neurotransmitters associated with mood, anxiety and
CeNeRx is looking to develop its current portfolio of preclinical/ phase I RIMA antidepressants and eventually expand its portfolio
through licensing of complementary products and programs.