TOULOUSE, France & LAKELAND, Mich.--(BUSINESS WIRE)--Regulatory News:
CERENIS Therapeutics (Paris:CEREN) (FR0012616852 – CEREN – PEA-PME eligible), an international biopharmaceutical company dedicated to the discovery and development of innovative therapies for treating cardiovascular and metabolic diseases, as well as new HDL-based vectors for targeted drug delivery in the field of oncology and immuno-oncology, announces that Bpifrance has notified the company of the complete technical failure of the ISI "Apotheosis" project for which a repayable advance was granted on July 22, 2010. The project provided funding as part of the development of CER-001 for the treatment and prevention of cardiovascular diseases including the acute coronary syndrome and familial hypoalphalipoproteinemia. The final results of these programs (CARAT and TANGO studies) were announced in 2018.
The company was notified of a debt exemption for a total amount of 4,602,943 euros, thus terminating the project and leading to the end of payments on this project. This decision will generate revenue of 4,602,943 euros over the first half of 2019.
Cash position and revenue for Q2 2019: July 25, 2019
Founded in 2005, Cerenis Therapeutics is an international biopharmaceutical company dedicated to the discovery and development of innovative therapies. Cerenis’ expertise has translated into a rich portfolio of programs for the treatment of cardiovascular disease and associated metabolic diseases such as NAFLD and NASH as well as a HDL targeted drug delivery platform in oncology, more specifically in immuno-oncology and chemotherapy.