Cerenis Raises Cash For Cholesterol Drug

Cerenis Therapeutics, a biotech firm with operations in France and Ann Arbor, Mich., has raised $52 million in its third round of financing. Half of the money came from the French government’s Fund for Strategic Investment; the remainder was supplied by existing investors. The influx of cash will help Cerenis push its lead drug candidate, CER-001, a high-density lipoprotein mimic for cardiovascular disease, through Phase II studies. The French government also provided about $14 million to Cerenis and its manufacturing partner, Novasep, to support the production of clinical-trial and commercial supplies of the protein-based drug.