BRIEF—Cerevance expands Series B with $51 million financing

UK clinical-stage biotech Cerevance today announced an expansion of its Series B funding round with the addition of $51 million, bringing the total Series B financing to $116 million.

Proceeds from the round will be used to advance Cerevance’s potential first-in-class programs and support upcoming clinical trials focused on Parkinson’s disease (PD), amyotrophic lateral sclerosis (ALS), and schizophrenia.

Cerevance first closed its Series B in 2020.

Cerevance takes a unique approach to drug discovery with its proprietary Nuclear Enriched Transcript Sort sequencing (NETSseq) platform.

Its platform is utilized to discover and validate novel therapeutic targets in some of the most challenging neurological diseases and contributes to the company’s growing pipeline of clinical and pre-clinical programs.

Thus far, the platform has continued to succeed and was the subject of a strategic collaboration with US pharma giant Merck & Co. This could be worth more than $1billion.

The additional funding announced today includes participation from Gates Frontier, Dementia Discovery Fund, Foresite Capital, GV (Google Ventures), Lightstone Ventures, Takeda Ventures, UPMC Enterprises and Dolby Family Ventures.