Cerebral Therapeutics develops drug-device combination therapies for patients suffering from severe refractory epilepsy and other neurological diseases
US-based clinical-stage biopharmaceutical company Cerebral Therapeutics has secured $35m in a Series B financing round, led by RA Capital Management.
The company revealed that the new investor Perceptive Advisors and existing investors including Vivo Capital and Granite Point Capital Management also participated in the funding round.
As part of the new investment round, RA Capital Management principal Matthew Hammond, and Weston Nichols from Perceptive Advisors, will be joined into Cerebral Therapeutics Board of Directors.
Matthew Hammond said: “The Cerebral Therapeutics team is pursuing a creative approach to drug delivery that addresses the key disadvantages of oral antiepileptic drugs.
“We feel privileged to support this team as they work toward bringing better therapeutic options to patients living with medically refractory epilepsy.”
Cerebral Therapeutics uses an implanted infusion system to deliver CT-010
Cerebral Therapeutics intends to spend the funding proceeds on an international Phase 2b clinical trial of its investigational product candidate (CT-010) for uncontrolled seizures with medically refractory epilepsy in adults.
Cerebral Therapeutics is engaged in developing drug-device combination therapies for patients suffering from severe refractory epilepsy and other uncontrolled neurological diseases.
The company uses an implanted infusion system to deliver continuous doses of CT-010 via the intracerebroventricular (ICV) mode, an invasive technique for dispensing substances directly into the cerebrospinal fluid.
Its advanced drug-device combination treatment is aimed at increasing brain exposure, to maximise efficacy, reduce systemic drug exposure, improve safety and therapy adherence, claims the company.
Cerebral Therapeutics chief executive officer Dan Abrams said: “We are pleased to announce completion of our Series B financing, enabling the company to further develop CT-010 for the treatment of refractory epilepsy, a serious and life-threatening condition.
“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. We look forward to initiating the Phase 2b trial and to sharing our progress as new data emerge.”