Cerenis Adds $13.9M to C Round

Xconomy Detroit/Ann Arbor — 

Cerenis Therapeutics, a biotech based in Ann Arbor, MI and Toulouse, France, said today that it has raised an additional $13.9 million in its Series C funding round. The first closing of the round was announced in July. The new capital, which came from the investment group IRDI-IXO and undisclosed private investors, brings the Series C round to $69.7 million and the total amount the firm has raised to $162.9 million, according to the company and based on today’s exchange rate between the Euro and the U.S. dollar. The company plans to use the third-round financing to fund a Phase II trial of its lead drug, CER-001, for cardiovascular disease. Its previous investors include Ann Arbor’s EDF Ventures, France’s Fund for Strategic Investment, Sofinnova Partners, HealthCap, Alta Partners, TVM Capital, OrbiMed Advisors, and Daiwa Corporate Investment.