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Cadent Therapeutics Closes $15 Million Final Equity Tranche of Series B Financing

Apr 29, 2020•over 5 years ago

Amount Raised

$15 Million

Round Type

series b

Cambridge

Description

Cadent Therapeutics, a clinical stage biopharmaceutical company focused on the development of therapies to improve the lives of patients with cognitive, mood, and movement disorders, today announced today that it has closed the $15 million final equity tranche of its previously announced $40 million Series B financing. The Company plans to allocate all proceeds to continue the development for its lead cognitive disorder asset, CAD-9303, a novel, first-in-class, positive allosteric modulator (PAM) of N-methyl-D-aspartate (NMDA) receptors for the treatment of the cognitive deficits and negative symptoms of schizophrenia. CAD-9303 is currently being evaluated in the Affinity-1 trial, a multicenter, randomized, placebo-controlled study.

Company Information

Company

Cadent Therapeutics

Location

Cambridge, Maryland, United States

About

Cadent Therapeutics is creating therapies for the treatment of cognitive, mood, and movement disorders. The company combines target specificity, patient selection, drug design and optimization, and novel quantitative endpoints to create first-in-class molecules to treat cognitive and movement disorders. Cadent Therapeutics is rapidly advancing its pipeline of positive allosteric modulators within indications including schizophrenia and movement disorders. The company has an exclusive license and collaboration agreement with Novartis to develop a negative allosteric modulator, now in Phase 2 for the treatment of treatment resistant depression. Investors include Atlas Venture, Cowen Healthcare Investments, Qiming Venture Partners, Access Industries, Clal Biotechnology Industries, Novartis Corporate and Slater Technology Fund. For more information, please visit cadenttx.com.

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