As it develops treatments for drug-resistant epilepsy, Aurora's Cerebral Therapeutics has closed a $35 million Series B to further test its solutions.
The round was led by RA Capital Management, with participation from additional new investor Perceptive Advisors and existing investors Vivo Capital and Granite Point Capital Management.
The clinical-stage pharmaceutical company is developing treatments for uncontrolled neurological diseases, namely medically refractory epilepsy. Unlike many epilepsy diagnoses that can traditionally be treated with medication, medically refractory epilepsy can't be treated with drugs.
Cerebral is developing a drug-device combination treatment, intended to increase brain exposure to maximize efficacy, while reducing drug exposure.
This round will allow the company to conduct an international Phase 2b double-blind, randomized, placebo-controlled clinical trial of its product (CT-010) for the treatment of uncontrolled seizures in adults with medically refractory epilepsy.
“The emerging data from our ongoing Phase 2a study demonstrates that direct brain administration of our proprietary anti-epileptic therapeutic has the potential to dramatically reduce seizure burden and to positively impact the lives of patients with refractory epilepsy,” Dan Abrams, M.D., CEO of Cerebral Therapeutics, said in a statement.
The five person company also has plans to add an additional four to seven employees across its Colorado and Minneapolis offices. Cerebral will also seek expanded collaboration with scientific and industry partners.
Located in Aurora on the Anschutz Medical Campus, Abrams said that the proximity to other innovative scientific companies has been a huge benefit.
"Access to basic and translational science support on the Anschutz campus has been invaluable," he told Colorado Inno. "In particular with regard to pharmaceutical sciences. We are very appreciative of the support we have received from the medical campus."
This round comes after the company closed an extension of its Series A round in March, totaling $11 million.
