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Cerebral Therapeutics has recently announced the closing of a $7.8 million Extension of its Series A financing by institutional investors Granite Point Capital Management, L.P. and Vivo Capital, LLC. Cerebral Therapeutics is a clinical stage company focused on developing reformulated medications which by-pass the blood-brain barrier with chronic implantable infusion systems. These developments are intended to improve the lives of patients with medically refractory epilepsy.
Epilepsy ranks as the fourth most common neurological problem worldwide, and out of the three million epilepsy sufferers in the U.S., one million people have not found a medical or surgical solution and continue to experience uncontrolled seizures. Cerebral Therapeutics utilizes a in implantable and refillable catheter/pump delivery system for a controlled, continuous intracerebroventricular (ICV) delivery of its proprietary CT001, a formulation of valproic acid.
The company is currently conducing a proof of concept study for their proprietary formulation of an anti-epileptic drug that is delivered directly using an ICV method. The intention of this study is to demonstrate the potentially heightened efficacy and lowered toxicity in patients with medically refractory epilepsy. This financing will be used to help file an IND with the U.S. Food and Drug Administration (FDA) to begin a Phase 2 clinical trial.
Infusion therapy market research published by iData Research shows that the infusion pump segment and the intravenous set segment constitute the vast majority of the overall market value, both representing nearly identical market shares, only barely favoring the former group. However, while the infusion pump market currently possesses a slightly greater market share, this is expected to be matched by the intravenous set segment due to its higher growth rate.
“We are grateful for our investors’ continued support and contribution to advance the company’s therapy for medically refractory epilepsy,” said Dan Abrams, M.D., CEO of Cerebral Therapeutics. “We have seen meaningful improvement in patients with uncontrolled seizures and we have seen evidence that our therapy is potentially life changing.”
For Further Information
More on the infusion therapy device market in the U.S. can be found in a series of reports published by iData entitled the U.S. Market Report Suite for Infusion Therapy Devices.