BRIEF—Cerevance pockets further $47 million for Parkinson’s trial

CNS-focused biotech company Cerevance has 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.

Proceeds from this financing will support the upcoming Phase III 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, and frontotemporal dementia.

Currently undergoing Phase II evaluation as a monotherapy for patients with early Parkinson’s disease yet to receive any Parkinson’s medications, CVN424 is seen to hold promise not only in alleviating motor fluctuations more effectively than existing oral therapies, but also in potentially improving non-motor symptoms without the adverse effects associated with current treatments.