Date: 2016-12-02
Type of information: Series A financing round
Company: Cerevance (USA - MA)
Investors: Takeda Pharmaceutical (Japan) Lightstone Ventures (USA - CA)
Amount: $36 million
Funding type: series A financing round
Planned used: Cerevance is a new neuroscience company focused on discovering and developing novel therapeutics for neurological and psychiatric disorders. The company will use a new technology, created in the Howard Hughes Medical Institute laboratory of Nathaniel Heintz, Ph.D. at the Rockefeller University. Takeda will jumpstart the new company by providing a 25-person neuroscience research team from its Cambridge, United Kingdom site, including industry veteran Mark Carlton, Ph.D., fully equipped laboratory space, and licenses to a portfolio of preclinical and clinical stage drug programs. “We are thrilled to assemble some of our best scientists, programs and discovery resources in a highly focused endeavor as part of our increased emphasis on leveraging external innovation,” said Andrew Plump, M.D., Ph.D., Chief Medical and Scientific Officer of Takeda. “When we announced the closure of our research site in Cambridge, UK, our goal was to find an innovative externalization home for our most promising CNS programs and scientists in an entrepreneurial setting. Cerevance is a great example of our new R&D strategy.
Others: * On December 2, 2016, Takeda Pharmaceutical and Lightstone Ventures announced the launch of Cerevance, a neuroscience company focused on discovering and developing novel therapeutics for neurological and psychiatric disorders. Takeda will jumpstart the new company by providing a 25-person neuroscience research team from its Cambridge, United Kingdom site, including industry veteran Mark Carlton, Ph.D., fully equipped laboratory space, and licenses to a portfolio of preclinical and clinical stage drug programs. Cerevance is funded with $36 million that includes a $21.5 million Series A financing investment from Takeda and Lightstone Ventures, with each joining Cerevance’s Board of Directors.
Therapeutic area: CNS diseases - Mental diseases - Neurological diseases
