Cerebral Therapeutics, a clinical-stage pharmaceutical company pioneering therapies for neurological diseases, announced today $40 million in Series C funding led by Lynx1 Capital Management with participation from existing investors RA Capital Management, Perceptive Advisors, Vivo Capital LLC, and Granite Point Capital Management L.P. In conjunction with the financing round, Weston Nichols, Ph.D., Managing Partner of Lynx1 Capital Management and Tim Scannell, former President and COO of Stryker, will join the Board of Directors.
The Company plans to use Series C proceeds to complete an international Phase 2 double-blind, randomized, placebo-controlled clinical trial of its proprietary investigational drug (CT-010) for the treatment of uncontrolled seizures in patients with medically refractory epilepsy, and to support Phase 3 readiness. Cerebral Therapeutics uses a proprietary implanted infusion system to deliver continuous doses of CT-010 intracerebroventricularly (ICV). This novel drug-device combination treatment is intended to increase targeted drug brain exposure thereby maximizing efficacy, reducing systemic…
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