Led · Series D · Nov 2010

Ceregene is a San Diego-based biotechnology company focused on delivering nervous system growth (neurotrophic) factors via gene delivery to treat neurodegenerative and retinal disorders. Its lead programs include CERE-120, targeted for Parkinson’s disease (moving into a Phase 2b study), and CERE-110, in a Phase 2 study for Alzheimer’s disease; the company also maintains an ocular disease program. Ceregene closed an $11.5M Series D financing and additionally received $733,437 in Therapeutic Discovery Tax Credit grants (three awards of $244,479). The new capital and grants will be used to advance the Phase 2b study of CERE-120 and to support the Alzheimer’s and ocular programs, supplementing recent support from The Michael J. Fox Foundation. As part of the financing, Kerry Dance, Ph.D., Managing Director of Hamilton BioVentures, will join the company’s board. Ceregene is developing CERE-120, a gene therapy that uses modified adeno-associated viruses to deliver genes encoding neurotrophic factors to neurons. The approach aims to have cells produce neurotrophic proteins that cannot cross the blood–brain barrier when delivered as standalone drugs. In a 12-patient early trial, CERE-120 administration was associated with a 36% reduction in symptoms at 12 months, though the study lacked rigorous controls. Ceregene is running a 51-patient follow-up trial that may generate data by fall 2008. Financially, the company has completed an open third funding round raising roughly $28–28.1 million and struck a development partnership with Genzyme that included a $25 million up-front payment and potential additional payments and royalties. Cell Genesys, Ceregene’s former corporate parent, participated in the financing alongside institutional investors.