CelerisTx announces $4.4m financing to advance pipeline of novel proximity inducing compound
Menlo Park, CA, USA, 10 February 2022 -- Celeris Therapeutics, the PIC™ engineering company, announces the closing of their $4.4m USD Series Seed Financing round.
Today, CelerisTx announces the closing of its recent financing round from deep-tech and healthcare-focused investors Pace Ventures Enigma from Berlin, Germany, i&i Biotech Fund from Luxembourg, and Apex Ventures from Austria. The financing follows on from the company's pre-seed round from March 2021. The existing investors R42 Group from Silicon Valley and Longevitytech.fund a.s. accompanied the lead investors with follow-up investments.
CelerisTx designs novel proximity-inducing compounds (PICs™) to treat diseases with high unmet medical needs. The patent-filed approach uses active machine learning to predict biomolecular interactions and generate new chemical entities by exploiting cell-based disposal mechanisms for proteins.
"The funding will be used to build our laboratory site in Graz, Austria, and further fuel our three in-house drug programs around neurology and oncology. This means a substantial acceleration on a global scale of our platform.", says Jakob Hohenberger, CFO/COO, and CoFounder
"The investment from institutional globally acting venture capital firms is a great acknowledgment and will support the acceleration of both R&D as well as business development to collaborate with big pharma and big biotech on precious new medicines.", says Christopher Trummer, the CEO and Co-Founder of CelerisTx.
"I'm excited to be part of the round and support the company to lead the rational design of degrader drugs. We all see a bright future for this new class of compounds and for Celeris Therapeutics.", says Marius Swart, the Managing Director of Pace Ventures Enigma
"We are thrilled to accompany such a promising biotech startup with its R&D in the center of Europe on its way to becoming a world leader.", adds Karel Kubias, Partner at i&i Biotech Fund and former CEO of the Czech subsidiary of Merck KGaA Darmstadt, Germany.
Just one day ago, on 9 February 2022, the US-Austrian startup Celeris Therapeutics announced a collaboration with Merck KGaA, Darmstadt, Germany, in the field of degraders and the hiring of two biotech veterans joining as VPs.
Celeris Therapeutics has raised a total of $6m USD to date, comprised of both venture investments and public grants from FFG and AWS. CelerisTx is already collaborating with several big pharma companies and runs three drug discovery programs covering the indications of Parkinson's and various types of cancer.
About Celeris Therapeutics
Celeris Therapeutics is a tech-enabled early-stage drug discovery company that uses innovative, computer-based methods to develop degrader drugs for currently undruggable pathogenic proteins that are related to Parkinson's, various types of cancers, and other diseases.
Celeris Therapeutics' technical solution is the platform Celeris One™. Celeris Therapeutics offers collaboration with pharma and biotech companies to jointly work on drugs against unmet medical needs and develops its own in-house drug pipeline.
Celeris Therapeutics has offices in Menlo Park, CA, and Graz, Austria.
To learn more, visit www.celeristx.com
SOURCE Celeris Therapeutics, Inc