Ann Arbor’s Cerenis Therapeutics ropes in $51.7M VC investment
Cerenis Therapeutics has landed $51.7 million in venture capital, making it another Ann Arbor company that has hit an investment home run in an area that is on a hit streak.The 5-year-old firm, composed mainly of former Pfizer employees, will use the money to expand its operations here and in France. It employs 26 people that are evenly split between the two locations, with the Ann Arbor office giving work to another four independent contractors. Three positions have been added over the last year, with an expected ramp-up in hiring with this new infusion of capital.”The funding will allow us to expand here and in France,” says Bill Brinkerhoff, COO of Cerenis Therapeutics.Cerenis Therapeutics is working on creating and commercializing the first synthetic HDL, which is the so-called good cholesterol. The idea is to create a new way to remove plaque from heart tissue. The product could be on the market as soon as 2015.”We’re going to see if it can regress plaque rapidly in patients who have had a heart attack,” Brinkerhoff says. “We have finished Phase 1 and this will pay for Phase 2, which is proof of concept.”Source: Bill Brinkerhoff, COO of Cerenis TherapeuticsWriter: Jon Zemke
Cerenis Therapeutics has landed $51.7 million in venture capital, making it another Ann Arbor company that has hit an investment home run in an area that is on a hit streak.
The 5-year-old firm, composed mainly of former Pfizer employees, will use the money to expand its operations here and in France. It employs 26 people that are evenly split between the two locations, with the Ann Arbor office giving work to another four independent contractors. Three positions have been added over the last year, with an expected ramp-up in hiring with this new infusion of capital.
“The funding will allow us to expand here and in France,” says Bill Brinkerhoff, COO of Cerenis Therapeutics.
Cerenis Therapeutics is working on creating and commercializing the first synthetic HDL, which is the so-called good cholesterol. The idea is to create a new way to remove plaque from heart tissue. The product could be on the market as soon as 2015.
“We’re going to see if it can regress plaque rapidly in patients who have had a heart attack,” Brinkerhoff says. “We have finished Phase 1 and this will pay for Phase 2, which is proof of concept.”
Source: Bill Brinkerhoff, COO of Cerenis Therapeutics
Writer: Jon Zemke
Related Articles
Recast Leaders aim to revitalize local economies
Ypsilanti and six other Michigan communities are working on building their local economies in the Recast Leaders program. Here’s a look at how the program works.
AI’s impact in Washtenaw County, from tech boom to data centers
Our new three-part series digs into AI’s impacts in Ann Arbor’s tech industry, its utilization in Washtenaw County’s educational world, and the ongoing debate about data centers in several Washtenaw County communities.
Ypsi selected to join downtown revitalization program with emphasis on small manufacturers
Ypsilanti is one of six communities participating in Recast City’s Recast Leaders program, which is focused on strengthening local economies through small-scale manufacturing and product-based businesses.
