CERENIS THERAPEUTICS RECEIVES €2.5 MILLION INVESTMENT FROM FRENCH GOVERNMENT THROUGH OSEO
Toulouse, France & Ann Arbor, Michigan, February 10, 2009-Cerenis Therapeutics SA (Cerenis), a privately held pharmaceutical company, today announced that it has received a €2.5 million investment to finance ongoing clinical development of its portfolio of HDL-related products for the treatment of cardiovascular and metabolic diseases. The funds were granted by OSEO, a French public holding company that provides financial support to promising French companies.
The financing will support continued development of the company's CER-001 program (recombinant HDL). In 2008 the company initiated preclinical studies to enable an Investigational New Drug (IND) application for this product candidate.
"This new source of funding will support our efforts to advance Cerenis HDL through the IND process and onto clinical development," said Jean-Louis Dasseux, Ph.D., M.B.A., president and CEO of Cerenis. "We are grateful to OSEO for its generous support of our efforts to bring this promising product candidate to market."
Founded in 2005, OSEO's mission is to support the most innovative and promising SMEs (small and medium enterprises) and VSEs (very small enterprises) based in France.
About Cerenis Therapeutics
Cerenis Therapeutics is a pharmaceutical company focused on the discovery, development and commercialization of breakthrough HDL-related therapies for the treatment of cardiovascular and metabolic diseases. Based on pioneering research conducted by the Cerenis team of world leaders in HDL therapy, the company is pursuing a range of HDL product candidates that are positioned to represent major advances in patient care and significant commercial opportunities in the treatment of cardiovascular and metabolic diseases. Cerenis has operations in Toulouse, France and Ann Arbor, Michigan.
For further information, please visit www.cerenis.com