Colorado-based Accera has closed a Series C financing round of $35 million. The company will use the funds to begin sales and marketing of the company's lead product, Axona, which is scheduled to launch in the United States in the first quarter of 2009. Axona, formerly known as Ketasyn, is a treatment for improving memory in older adults. The round was led by by Inventages Venture Capital. San Diego-based POSCO BioVentures and other previous private investors also participated.
"Metabolic intervention is a new approach to neurodegenerative diseases, and Accera is a clear leader. We are pleased to support the commercialization of Axona as the lead product from this novel technology platform," noted Wolfgang Reichenberger, general partner, Inventages WHealth Management.
- see Accera's release for more