Navigation Links
REVISED: BrainCells Inc. Expands Series B Financing to $50 Million
Date:4/17/2008

SAN DIEGO, April 17 /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 raised an additional $20 million in an extension of its Series B financing, bringing the total to $50 million. New investor, New Enterprise Associates (NEA), along with current investors and Alexandria Real Estate Equities, Inc. participated in the extension. Other investors that participated in the Series B included MedImmune Ventures, Bay City Capital, Oxford Bioscience Partners, Technology Partners, Pappas Ventures and NeuroVentures. The financing will be used to continue clinical development of BCI's product candidates including a Phase 2 trial with BCI-540, and to identify additional assets to further expand its pipeline.

As part of the financing extension, BCI announced the addition of Chuck Newhall, general partner and co-founder of NEA, to its Board of Directors. Prior to NEA, he was a Vice President at T. Rowe Price Associates. Before that, Mr. Newhall founded the Mid-Atlantic Venture Capital Association (MAVA) and currently serves as Chairman Emeritus. His board memberships include Bravo by ElderHealth, CoGenesys, Hospital Partners of America, Pharmos, Sensors for Medicine & Science, Supernus Pharmaceuticals, TargetRx, Trine Pharmaceuticals, and Vitae Pharmaceuticals.

"Only weeks after closing our first round of the Series B financing, we are thrilled with the result of the second close and bringing in the support of NEA, another high-quality investor," said Jim Schoeneck, CEO of BCI. "Chuck's decades of experience in the industry will be a tremendous asset to the company as we build momentum in the clinic this year."

BCI recently initiated a Phase 2a clinical trial with its lead product candidate, BCI-540, for the treatment of depression. The Company in-licensed BCI-540 in August 2006 and used its proprietary platform technology to identify the compound's neurogenic profile, which is comparable to antidepressants on the market today, but that has shown in pre-clinical studies to not affect serotonin levels, which could avoid the negative side effects associated with existing therapies.

"With an eye on innovative companies providing solutions for clinically unmet needs, we find BCI's ability to leverage its neurogenic screening technology to identify and develop new treatments for CNS disorders to be extremely promising," said Chuck Newhall, general partner and co-founder of NEA. "I look forward to joining the BCI board and seeing the company through a transformational year with several anticipated clinical milestones."

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. Revised: Othera Pharmaceuticals Appoints Dr. Frederick R. Rickles Chief Scientific Officer
2. BrainCells Inc. Completes $30 Million Initial Closing of Series B Financing
3. BrainCells Inc. Expands Series B Financing to $50 Million
4. ATS Medical Expands Open Pivot Heart Valve Offerings
5. SAFC Expands Hi-Potency API Manufacturing and Introduces Solid-Form Testing at Its Madison Facility
6. BioLife Solutions Expands Scientific Advisory Board
7. Elekta To Showcase Innovations in Radiotherapy and Unveil New Product That Expands Cancer Treatment Availability
8. SAFC Expands European Commercial Manufacturing and Storage Capacities With $10 Million Investment
9. Pharsight Expands Strategic Consulting Services Team
10. Validus Pharmaceuticals Expands Product Portfolio with Acquisition of Bipolar Drug: Equetro(R)
11. Serica Technologies Expands Facilities in Massachusetts, Combines State-Of-The-Art Textile Engineering and Biomedical Manufacturing
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/20/2017)... ... July 20, 2017 , ... Crucial Data ... sites and study participants truly unified. TrialKit, a native mobile app, empowers investigators ... 11) research studies entirely on mobile devices. With TrialKit, clinical researchers can utilize ...
(Date:7/18/2017)... ... July 18, 2017 , ... ... Merck, a leading science and technology company, has implemented Genedata Biologics ™ ... therapeutic areas of Oncology, Immunology, and Neurodegenerative Diseases. , The need to systematically ...
(Date:7/18/2017)... Washington, DC (PRWEB) , ... July 18, 2017 ... ... for the Allotrope Framework, and has released the first phase of the Allotrope ... Bio-IT World’s Best Practices Awards were created to “not only elevate the critical ...
(Date:7/17/2017)... ... 17, 2017 , ... The Academy of Model Aeronautics (AMA) will host Aviation ... will take place from 9 a.m. to 2 p.m. at the International Aeromodeling Center ... , Aviation Adventure Day will be packed with entertaining activities for the entire family. ...
Breaking Biology Technology:
(Date:3/27/2017)... N.Y. , March 27, 2017  Catholic ... Information and Management Systems Society (HIMSS) Analytics for ... EMR Adoption Model sm . In addition, CHS ... of U.S. hospitals using an electronic medical record ... for its high level of EMR usage in ...
(Date:3/24/2017)... Research and Markets has announced the addition ... Trends - Industry Forecast to 2025" report to their offering. ... The Global Biometric ... of around 15.1% over the next decade to reach approximately $1,580 ... market estimates and forecasts for all the given segments on global ...
(Date:3/23/2017)... Research and Markets has announced the addition of the ... Forecast to 2025" report to their offering. ... The Global Vehicle Anti-Theft System ... over the next decade to reach approximately $14.21 billion by 2025. ... forecasts for all the given segments on global as well as ...
Breaking Biology News(10 mins):