Clene Nanomedicine, Inc., a Salt Lake City, UT-based clinical-stage biopharmaceutical company, secured $42.5m in Series D financing.
The round was led by SymBiosis II, LLC, a biotech-focused investment vehicle. Participants in the round included existing investors, as well as new institutional investors from South Korea and Japan.
Proceeds from the financing will be used to advance Clene’s clinical pipeline—particularly the lead nanocatalyst, CNM-Au8—through its ongoing Phase 3 study for the treatment of amyotrophic lateral sclerosis (ALS), and multiple Phase 2 clinical trials for the treatment of progressive neurologic impairment seen in people suffering from multiple sclerosis, Parkinson’s disease, and ALS.
Led by Rob Etherington, President and CEO, Clene Nanomedicine is a clinical-stage biopharmaceutical company focused on the development of therapeutics for neurodegenerative diseases. CNM-Au8 is a concentrated, aqueous suspension of clean-surfaced faceted nanocrystalline gold (Au) that acts catalytically to support important intracellular biological reactions. CNM-Au8 consists solely of gold atoms organized into faceted, geometrical crystals held in suspension in sodium bicarbonate-buffered, pharmaceutical grade water. It has demonstrated safety in Phase 1 studies in healthy volunteers, and both remyelination and neuroprotection effects in multiple preclinical models. Preclinical data presented at scientific congresses demonstrated that treatment with CNM-Au8 in neuronal cultures improved survival of neurons, protected neurite networks, decreased intracellular levels of reactive oxygen species, and improved mitochondrial capacity in response to cellular stress induced by multiple disease-relevant neurotoxins. Oral treatment with CNM-Au8 improved functional behaviors in rodent models of ALS, multiple sclerosis, and Parkinson’s disease versus vehicle (placebo). CNM-Au8 has received regulatory approval to initiate Phase 2 and 3 clinical studies for neuroprotection and remyelination in patients with multiple sclerosis, amyotrophic lateral sclerosis (ALS), and Parkinson’s disease.
Founded in 2013, the company is based in Salt Lake City, Utah with R&D and manufacturing operations located in North East, Maryland.
FinSMEs
26/08/2020