Financing round led by Agent Capital, Bioluminescence, and Double Point Ventures, with participation from new investors MQB Partners and others Proceeds will advance Cerevance's first-in-class pre-clinical and clinical programs, including initiation of the Phase 3 clinical trial for CVN424 BOSTON, April 25, 2024 (GLOBE NEWSWIRE) -- Cerevance, a company focused on developing precision novel therapeutics for central nervous system (CNS) diseases, today announced an initial closing of its Series B-1 Extension financing round that will add $47 million to the $51 million previously raised bringing the total Series B-1 raise to $98 million. The financing is led by Agent Capital, Bioluminescence Ventures, and Double Point Ventures, with participation from new investors MQB Partners and LifeRock Ventures and existing investors Gates Frontier, GV (Google Ventures), and Lightstone Ventures. In conjunction with the financing, Campbell Murray, MD, MPP, MBA, Partner at Agent Capital and Kouki Harasaki, Ph.D., MBA, Founder and Managing Partner at Bioluminescence Ventures, have joined the Cerevance Board of Directors. "The support from new and existing investors underscores the ongoing advancements made by Cerevance," said Craig Thompson, chief executive officer of Cerevance. "This upcoming year marks a crucial phase as we embark on the Phase 3 clinical trial for our flagship therapy, CVN424, and continue in discovering innovative, precision CNS treatments that will enrich our extensive pipeline." Proceeds from this financing will support the upcoming Phase 3 clinical trial for CVN424, a first-in-class non-dopamine therapy for patients with Parkinson's disease, as well as the advancement of a pipeline of novel treatments for other CNS disorders, including Alzheimer's disease, Amyotrophic lateral sclerosis, ...