RESEARCH TRIANGLE PARK, N.C., Aug. 13 /PRNewswire/ — CeNeRx
BioPharma, Inc., a clinical stage company developing and
commercializing innovative treatments for diseases of the central
nervous system (CNS), today announced completion of a $13 million
Series C financing. Existing investors Perseus Soros
Biopharmaceutical Fund, L Capital Partners and Pappas Ventures all
participated in the financing. CeNeRx plans to use the
proceeds to conduct a Phase II trial of its improved formulation of
its novel antidepressant TriRima™.
“These funds will support the Phase II trial of TriRima
as monotherapy for treatment-resistant depression,” said Barry
Brand, Chief Executive Officer of CeNeRx. “We are pleased
with the continuing confidence and support of our investors and
look forward to advancing the CeNeRx pipeline.”
CeNeRx is preparing to conduct a Phase II trial with an improved
formulation of its lead product candidate TriRima for
treatment-resistant depression. TriRima is a selective
and reversible member of a novel class of drugs known as RIMAs, or
reversible inhibitors of monoamine oxidase A (MAO-A). The
triple action mechanism of TriRima elevates the levels of
three key neurotransmitters that positively affect mood and
anxiety, compared to the one or two neurotransmitters addressed by
most current antidepressant drugs. This triple action
mechanism may benefit patients not responding to traditional single
or dual action products, while the selectivity and reversibility of
TriRima are expected to eliminate or reduce the risk of
food-associated cardiovascular side effects of conventional MAO
inhibitors.
About CeNeRx BioPharma
CeNeRx is a privately held clinical-stage biopharmaceutical
company developing and commercializing innovative treatments for
diseases of the central nervous system. CeNeRx’s most
advanced compound, a reversible inhibitor of
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