CeNeRx BioPharma has closed on $4.85 million in new financing with the funding provided by existing investors.
Among the backers is Triangle-based Pappas Ventures.
CeNeRx is focused on development of drugs to treat central nervous system diseases.
Other backers include Perseus Soros Biopharmaceutical Fund, L Capital Partners and Omega Funds.
The funding will be used for an ongoing Phase II clinical trial of its proposed antidepressant known as TriRima. The money also will be used to advance other potential products in the CeNeRx pipeline.
The company also said Friday that it has submitted an investigational new drug filing for a potential treatment of Alzheimer’s disease.
“CXB909, which is a small molecule, orally active agent that enhances the effects of nerve growth factor, may have utility in the prevention and treatment of neurodegenerative disorders such as Alzheimer’s disease, and in neuropathic conditions such as chemotherapy-induced peripheral neuropathy,” CeNeRx said.
CeNeRx raised $13 million in 2010.
In June 2009, CeNeRx closed on $9 million in funding, including a $5 million credit facility from MidCap Financial.
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