Ceregene Awarded Funding From Michael J. Fox Foundation
June 23, 2010 - VentureWire
By Scott Austin
Venture-backed biopharmaceutical company Ceregene Inc. is among a group of companies that received a total of $4.6 million in funding from The Michael J. Fox Foundation for Parkinson's Research.
Ceregene is conducting a Phase 2 clinical study evaluating CERE-120, a gene therapy product which aims to deliver the neurotrophic factor neurturin to dying dopamine neurons in the brain. Ceregene's new clinical study follows an earlier Phase 2 trial, also supported by MJFF, which failed to show a benefit of CERE-120 over placebo on the primary endpoint after 12 months.
Ceregene is also separately developing a gene therapy for Alzheimer's disease in which it delivers nerve growth factor to rejuvenate cholinergic neurons.
San Diego-based Ceregene has raised at least $70 million in venture capital from firms such as Alta Partners, California Technology Ventures, Hamilton BioVentures, Investor Growth Capital and MPM Capital.
The second award by MJFF supports a collaborative effort between Biovail Laboratories International SRL and MedGenesis Therapeutix Inc. to develop a different neurotrophic factor as a potential PD therapeutic.
http://www.michaeljfox.org
http://www.ceregene.com
