UPMC Enterprises has contributed to a $20m series B extension for Cerevance, which is commercialising Rockefeller University research.
Cerevance, a US-based brain disease treatment company based on Rockefeller University research, yesterday increased its series B round to $65m following a $20m extension featuring UPMC Enterprises, the commercialisation arm of University of Pittsburgh Medical Center.
Dolby Family Ventures, Foresite Capital and Casdin Capital also backed the extension.
The extension comes three months after an initial $45m series B tranche backed by GV and Takeda Ventures, corporate venturing subsidiaries of internet and technology group Alphabet, and pharmaceutical firm Takeda.
Foresite Capital, Lightstone Ventures and Dementia Discovery Fund, a strategic investment fund backed by several drug developers, also contributed to the first tranche, as did philanthropic investor Bill Gates.
Founded in 2016, Cerevance is progressing medical treatments for central nervous system (CNS) diseases identified using a discovery platform called NetsSeq that holds clinical annotations for more than 8,000 human brain tissues samples.
Cerevance’s lead program,…