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news.CeNeRx BioPharma, specialized in the treatment for diseases of the central nervous system (CNS), has completed a financing of $4.85m in which existing investors Perseus Soros Biopharmaceutical Fund, L Capital Partners, Pappas Ventures and Omega Funds took part.
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The company will use the proceeds of the financing for the completion of its ongoing Phase II trial of the improved formulation of antidepressant TriRima, besides using it in the advancement of its agents for CNS disorders.
TriRima is a selective and reversible member of a novel class of drugs known as RIMAs, or reversible inhibitors of monoamine oxidase A, which acts to normalize the levels of neurotransmitters.
According to the company, the Phase II trial of TriRima in treating resistant depression has enrolled almost 80% of the 360 patients and is proceeding at a good pace.
CeNeRx CEO Barry Brand said their Phase II trial has not witnessed food-associated hypertensive effects of conventional MAO inhibitors and the blinded assays of the subjects in the trial reveal regimen compliance rates of greater that 90%.
"We look forward to reporting data from this TriRima Phase II trial during 2012," Brand added.