Posted by Tomatheus on November 29, 2005, at 17:58:14
This definitely sounds like good news. It sounds like that if all goes well, RIMAs might finally make their way to the United States. And perhaps the development of a RIMA other than moclobemide might become a reality. But of course, I know I shouldn't speak too soon.
Moclobemide is currently the only RIMA (reversible inhibitor of MAO-A) available anywhere in the world. It is available in more than 50 countries, but not in the U.S.
Read on...
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Press release URL:
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/11-29-2005/0004224444&EDATE=And here's the press release itself:
Start-up earns Triangle's largest Q4 funding and 4th largest financing of 2005
RESEARCH TRIANGLE PARK, N.C., Nov. 29 /PRNewswire/ -- CeNeRx BioPharma,
Inc., a start up biopharmaceutical company focused on developing new
therapeutics for disorders of the central nervous system, today announced the
completion of $18.5 million in series A financing.CeNeRx BioPharma (CeNeRx) is dedicated to acquiring and developing early-
stage compounds for applications to treat central nervous system (CNS)
disease. The company focuses on identifying promising therapeutics and moving
the research forward to create medicines for the future.The series A financing positions CeNeRx to advance critical research and
development with ample reserves to support its future business growth
initiatives. The round was led by the Perseus-Soros BioPharmaceutical Fund,
with active participation from L Capital Partners, A.M. Pappas & Associates,
and Wistar Morris."We are delighted to be working with top-tier life science investors to
acquire, develop and license medicines for treatment of diseases that relate
to the nervous system," said Barry Brand, a former GlaxoSmithKline vice
president and now CEO of CeNeRx.CeNeRx's first series of compounds are RIMAs (reversible inhibitors of
monoamine oxidase) designed to treat depression and anxiety. Unlike two major
classes of existing antidepressants, monoamine oxidase inhibitors (MAOIs) and
serotonin and noradrenaline reuptake inhibitors (SNRIs), RIMA compounds work
on all three neurotransmitters in the body and block degradation and
ultimately increase levels of the three key neurotransmitters associated with
mood, anxiety and somatic disorders.Expressing the need for new medications to help depressed patients, Dr.
Charles Nemeroff, MD, PhD, Chair of Psychiatry at the Emory University School
of Medicine noted, "There is increasing use of mood and anxiety agents that
work on multiple neurotransmitters, but the CeNeRx RIMA series will be the
first oral antidepressant to work on all three key neurotransmitters
(serotonin, norepinephrine and dopamine) with selectivity and reversibility
attributes - significantly reducing the risk of a hypertensive crisis present
in some existing treatments."CeNeRx is looking to develop its current portfolio of preclinical / phase
I RIMA antidepressants and eventually expand its portfolio through licensing
of complementary products and programs.Supported by a strong investor syndicate led by co-founding directors
Barry Brand and Mark Baric, additional board members include Steve Elms and
Tony Sun of the Perseus-Soros Biopharmaceutical Fund and Ting Pau Oei of L
Capital Partners.Steve Elms, managing director at the Perseus-Soros Biopharmaceutical Fund,
said, "We invested in CeNeRx BioPharma because of their solid lead in RIMA
technology which offers precedented efficacy and the promise of novel safety
gains." Elms added, "We worked with CeNeRx to create a unique financing
structure that efficiently advances clinical development utilizing a virtual
model supported by an impressive network of well-established and respected
clinical research organizations."About CeNeRx BioPharma
CeNeRx is a high growth drug development company searching for new and
innovative medicines to help healthcare providers and patients enhance
positive mental health and conquer neurological diseases. CeNeRx develops
medicines to treat diseases related to neurotransmitters and the central
nervous system including anxiety, bipolar disorder, dementia, depression,
epilepsy, neuropathic pain, schizophrenia, Parkinson's and Alzheimer's
disease. More information about CeNeRx BioPharma can be found at
http://www.cenerx.com.About Perseus-Soros BioPharmaceutical Fund
Perseus, with Soros Fund Management, has co-sponsored the Perseus-Soros
BioPharmaceutical Fund. The BioPharmaceutical Fund will make investments
ranging in size from $10 million to $50 million. PSBF believes that by
providing sufficient capital, capital allocation discipline and the expertise
to achieve commercial success, the BioPharmaceutical Fund will enable
companies to achieve strong growth and near term earnings potential, which
will yield high returns on investment. For more information visit
http://www.perseusllc.com.About L Capital Partners
L Capital Partners helps entrepreneurs grow their new ventures into
scalable and profitable businesses by providing financing and expertise to
fast growing companies in the fields of healthcare, security and information
technology. The team at L Capital brings together its experience as successful
technology company CEO's, operating managers of large healthcare companies,
corporate venture capitalists, and oversight of international financial
service operations. This unique combination of business experience and domain
expertise helps entrepreneurs build companies to become high value,
sustainable businesses. For more information visit http://www.lcapitalpartners.com.About A. M. Pappas & Associates
A. M. Pappas & Associates is a Research Triangle Park, North Carolina-
based venture capital firm that invests nationally in the life science
industry. Founded in 1994, Pappas has $200 million under management and
recently began investing its third venture capital fund. Among Pappas
Ventures' more than 40 current and former portfolio companies are Arena
Pharmaceuticals, Bayhill Therapeutics, NuVasive, Panacos Pharmaceuticals,
Peninsula Pharmaceuticals, Plexxikon, and TargeGen. The firm's primary
investment focus is on product-oriented biotechnology and pharmaceutical
companies with a secondary focus on medical technologies. For more
information visit http://www.ampappas.com.
poster:Tomatheus
thread:583436
URL: http://www.dr-bob.org/babble/20051126/msgs/583436.html