[420 Girl]

CeNeRx BioPharma, Inc., a clinical stage company developing and commercializing innovative treatments for diseases of the central nervous system (CNS), has closed a $15M second round from existing investors Aisling Capital, L Capital Partners and Pappas Ventures. The company develops treatments based on selective cannabinoid compounds.

Cannabinoid compounds are found in the Cannabis (Cannabis sativa L) or marijuana plant. In the 1980s it was discovered that cannabinoid receptors are common in animals, including humans.

CeNeRx plans to use the proceeds to conduct a Phase II clinical trial of its lead product candidate Tyrima(TM) for the treatment of major depressive disorder (MDD), to further characterize its novel preclinical cannabinoid pipeline and potentially to acquire additional development stage compounds targeted at CNS disorders.

"This successful Series B financing is a validation of the excellent progress we are making in advancing Tyrima, which we believe has the potential to be an important new option in the $15 billion antidepressant market," said Mark Baric, president of CeNeRx.
The company has initiated a Phase II clinical trial of Tyrima.
Tyrima is a selective and reversible member of a novel class of drugs known as RIMAs, or reversible inhibitors of monoamine oxidase A (MAO-A).

CeNeRx says it has also recently completed successful preclinical studies of its selective cannabinoid compounds for the treatment of pain, glaucoma and spasticity.

Barry Brand, CEO of CeNeRx said in a statement, "Our commitment to developing innovative CNS products is exemplified by Tyrima, one of the select few novel compounds being developed for the underserved antidepressant market, and we are in early discussions with potential partners for our selective cannabinoids, which are showing promise preclinically in a number of CNS-related conditions.

“Proceeds from the Series B financing will help make continued progress in these programs possible. With our expanded resources and capabilities, we are now also seeking to apply our expertise to other novel CNS compounds addressing major unmet needs."

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