CeNeRx takes $15M to fight depression
CeNeRx BioPharma recently raised $15 million in a second round of funding contributed by Aisling Capital, L Capital Partners and Pappas Ventures. The Cary, N.C. company specializes in treatments for central nervous system disorders. It plans to use the money to push its lead drug candidate, Tyrima — intended for treatment of severe depression — through the second phase of clinical trials.
This is CeNeRx’s first round of funding since 2005, when it raised $18.5 million. It received an additional $2.5 million in venture debt from Oxford Finance in 2006, reports VentureWire. In addition to Tyrima, the company is working on several other compounds that could be used to treat pain, obesity and overactive bladder symptoms.
Next Story: See who knew how to quit you on Twitter with Qwitter
Previous Story: T2 Biosystems brings in $10.8M for diagnostics
About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
With GreenBeat 2009, VentureBeat's all-star conference on all things Smart Grid, coming up in November, Camille will be expanding coverage of this exciting space. Stay up to date by following @greenbeat2009 on Twitter or by becoming a fan of the event on Facebook here.