Navigation Links
BrainCells Inc. Completes $30 Million Initial Closing of Series B Financing
Date:3/10/2008

MedImmune's William Bertrand, Jr., J.D., joins BrainCells' Board of

Directors

SAN DIEGO, March 10 /PRNewswire/ -- BrainCells Inc. (BCI), a biopharmaceutical company utilizing its platform technology to identify and develop compounds that promote the growth of new neurons for the treatment of central nervous system (CNS) diseases, announced today that it has completed a $30 million initial closing of its Series B financing. New investor MedImmune Ventures joined previous investors Bay City Capital, Oxford Bioscience Partners, Technology Partners, Pappas Ventures and Neuro Ventures in the round. The financing will be used to continue clinical development of BCI's product candidates including BCI-540, and to identify additional assets to further expand its pipeline.

As a part of the Series B financing, BCI also announced the addition of William Bertrand, Jr., J.D., senior vice president and general counsel of MedImmune, to its Board of Directors. Prior to joining MedImmune in 2001 as vice president of legal affairs, Bertrand served in various legal positions at Pharmacia Corporation. He was also general counsel for a life insurance company, a partner at Dickinson, Wright, Moon, Van Dusen & Freeman, and has taught courses at various institutions including the Seton Hall University School of Law.

"The strong interest in this round by our existing investors as well as a new, high-quality investor such as MedImmune Ventures validates the progress the company has made in the area of neurogenesis," said Jim Schoeneck, CEO of BCI. "We are delighted to have MedImmune Ventures join and for Bill to now be a member of our board, bringing his legal expertise and more than a decade of experience in the biotechnology and pharmaceutical industries."

"BCI's application of groundbreaking science in neurogenesis to the treatment of mood disorders and other neurological conditions has the potential to provide a novel treatment paradigm," commented William Bertrand, Jr. senior vice president and general counsel of MedImmune. "I look forward to working with the BCI management team and its board as the company advances its lead product candidates toward clinical proof of concept."

BCI's lead product candidate, BCI-540, is being investigated for the treatment of depression and anxiety disorders. It will enter Phase II development in 2008. BCI-540 was in-licensed from Mitsubishi Pharmaceutical Corporation and has been clinically tested in more than 700 patients, demonstrating its well defined safety profile. Other product candidates, including two combination products for CNS disorders and an in-licensed compound, BCI-632, from Taisho Pharmaceutical Co., Ltd., will also be moving towards clinical studies over the next 12 months.

About BrainCells Inc.

BrainCells Inc. (BCI) is a San Diego-based drug discovery and development company that is applying its proprietary neurogenesis platform technology to identify and reposition compounds for the treatment of central nervous system (CNS) diseases. Neurogenesis is the process by which endogenous stem cells in the adult human brain produce new brain tissue, including neurons. With its predictive screening platform, BCI can direct the selection and development of neurogenic compounds, increasing the opportunity for successful clinical trials in a variety of CNS indications. For more information, visit http://www.braincellsinc.com.

Media Contact:

Kim Richards

Porter Novelli Life Sciences

619-849-5377

krichards@pnlifesciences.com


'/>"/>
SOURCE BrainCells Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. PharmAthene Completes Pharmacokinetic Studies of Protexia(R); Program on Target for IND Filing in 2008
2. D-Pharm Completes Pre-IND Meeting With the FDA for Treatment of Acute Stroke With DP-b99
3. Plurality Completes R&D of its HAL-256 Multicore Processor
4. Cadence Pharmaceuticals Completes $49.3 Million Registered Direct Offering
5. Inverness Medical Innovations Completes Acquisition of BBI Holdings Plc
6. Alynx, Co. Completes Merger With Medical Device Company MiMedx, Inc.
7. Cardium Completes $5.3 Million Registered Direct Offering
8. WuXi PharmaTech Completes Acquisition of AppTec
9. Max Nutrition, Inc. Completes Share Exchange with American Spring Pharmaceutical, Inc.
10. Healionics Corporation Completes Series A Financing
11. ActivBiotics Completes Sale of Fixed Assets; Expands Due Diligence Initiative for the Sale of Intellectual Property, Including Drug Product Candidates
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... ... 23, 2016 , ... Supplyframe, the Industry Network for electronics ... Lab . Located in Pasadena, Calif., the Design Lab’s mission is to bring ... designed, built and brought to market. , The Design Lab is Supplyframe’s physical ...
(Date:6/23/2016)... 23, 2016 Apellis Pharmaceuticals, Inc. today ... trials of its complement C3 inhibitor, APL-2. The ... ascending dose studies designed to assess the safety, ... injection in healthy adult volunteers. Forty ... a single dose (ranging from 45 to 1,440mg) ...
(Date:6/23/2016)... NEW YORK , June 23, 2016 ... the trading session at 4,833.32, down 0.22%; the Dow Jones ... the S&P 500 closed at 2,085.45, down 0.17%. Stock-Callers.com has ... INFI ), Nektar Therapeutics (NASDAQ: NKTR ... BIND Therapeutics Inc. (NASDAQ: BIND ). Learn more ...
(Date:6/23/2016)... ... 23, 2016 , ... Velocity Products, a division of Morris ... optimized exclusively for Okuma CNC machining centers at The International Manufacturing Technology Show, ... several companies with expertise in toolholding, cutting tools, machining dynamics and distribution, Velocity ...
Breaking Biology Technology:
(Date:6/9/2016)... Paris Police Prefecture ... solution to ensure the safety of people and operations in ... major tournament Teleste, an international technology group specialised ... today that its video security solution will be utilised by ... public safety across the country. The system roll-out is scheduled ...
(Date:6/3/2016)... , June 3, 2016 ... von Nepal hat ... Lieferung hochsicherer geprägter Kennzeichen, einschließlich Personalisierung, Registrierung ... in der Produktion und Implementierung von Identitätsmanagementlösungen. ... Ausschreibung im Januar teilgenommen, aber Decatur wurde ...
(Date:6/2/2016)...   The Weather Company , an IBM Business (NYSE: ... capability in which consumers will be able to interact with ... via voice or text and receive relevant information about the ... Marketers have long sought an advertising solution that can create ... relevant and valuable; and can scale across millions of interactions ...
Breaking Biology News(10 mins):