SOUTH SAN FRANCISCO, Calif., Oct. 26 /PRNewswire/ -- Cerimon Pharmaceuticals announced today the completion of a $70 million Series A financing, which will be used to expand the Company's product pipeline through innovative partnering transactions and product acquisitions. The financing was led by MPM Capital, together with Nomura Phase4 Ventures and OrbiMed Advisors.
Cerimon also announced separately today that it has acquired U.S. rights to market and sell two topical formulations of diclofenac, a non-steroidal anti-inflammatory drug (NSAID).
Paul Sekhri, President and CEO of Cerimon Pharmaceuticals, commented, "We are proud to announce the closing of this important financing, which ranks as one of the largest recent Series A investments in this industry. Cerimon now has a top-tier group of investors who will work closely with the Company in advancing our strategic plan."
Dr. Ansbert Gadicke, of MPM, stated, "We founded the Company with Paul Sekhri to leverage our innovative partnering strategies with the pharmaceutical industry. The financing will allow the acquisition of valuable assets, which will bring Cerimon closer to becoming a fully integrated biopharmaceutical company with access to the public capital markets in the short to medium term."
As part of the Series A financing, Denise Pollard-Knight, Head of Nomura Phase4 Ventures, an affiliate of Nomura International plc, Robert Adelman, M.D., Principal, OrbiMed Advisors, and Paul Hastings, former president and CEO of QLT, Inc., have joined Cerimon's Board of Directors. The Cerimon Board of Directors also includes Paul Sekhri, Ansbert Gadicke, M.D., Founding General Partner of MPM Capital, and Vaughn Kailian, Chairman of the Board, General Partner of MPM Capital and former CEO of COR Therapeutics.
About Cerimon Pharmaceuticals
Cerimon Pharmaceuticals, Inc. is a biopharmaceutical company dedicated to bringing innovative therapeutics to patients with substantial, unmet medical needs. The Company is engaged in the development and commercialization of therapeutics in the areas of autoimmune diseases, inflammation and pain. Cerimon was founded in November 2004 by Paul Sekhri, together with Ansbert Gadicke and Luke Evnin of MPM Capital, as a start-up biopharmaceutical company focused on innovative partnering deals with the pharmaceutical industry. Cerimon is headquartered in South San Francisco. For more information on Cerimon, please visit the Company's Website at http://www.cerimon.com .
Source: Cerimon Pharmaceuticals
