Cereno Scientific broadens its pipeline - signs agreement on acquisition of compound in preclinical phase
Cereno Scientific announced today that the company has signed an agreement with Inorbit Therapeutics AB regarding the acquisition of a new compound in preclinical phase. The compound CS036 provides a further extension of Cereno Scientific's portfolio in cardiovascular diseases.
– As an obvious next step of our broadening of the company's priority indication areas, I am very pleased that we have expanded our portfolio of drug candidates with another new compound, CS036, says Cereno Scientific's CEO Sten R. Sörensen.
Earlier this year, Cereno Scientific communicated an acquisition of the compound CS014 with the aim of broadening the company’s pipeline of projects. With the acquisition of the compound CS036 from Inorbit Therapeutics, Cereno Scientific is further expanding its development platform. The agreement with Inorbit Therapeutics means that Cereno Scientific will take over all rights related to the compound and the related compound family. The further development work will be run by Cereno Scientific.
– We are extremely proud of the confidence that Cereno Scientific puts on our approach to drug discovery and look forward to a fruitful collaboration with Cereno Scientific, says Inorbit Therapeutic’s CEO Bert Benthem.
For further information, please contact:
Daniel Brodén – CFO
Tel: +46 768 66 77 87
E-mail: info@cerenoscientific.com
www.cerenoscientific.se
About Cereno Scientific AB
Cereno Scientific is developing a pipeline of preventive therapeutics that work through epigenetic modulation for cardiovascular diseases and rare diseases to meet significant unmet clinical needs. Cereno Scientifics aim is to form a platform of drug candidates that affects the field of epigenetic modulation through "HDAC inhibition" (Histone DeACetylase inhibition). The company's first program, CS1, is a phase II dual-acting antithrombotic drug aimed at venous thrombosis and stroke prevention for atrial fibrillation. Current therapies are connected to an increased risk of bleeding and, as a result, low effectiveness due to lower dosing levels. In turn, this leads to a high risk of new blood clots. Cereno Scientific’s drug candidate, CS1, is expected to provide a possibility for an effective prevention of thrombosis and a lower risk for serious bleeding complications than with current blood thinning therapies. CS1 is an innovative controlled release formulation of a known compound, and as such is expected to have a relatively short development time. Cereno Scientific also evaluates the potential of epigenetic modulation for rare diseases related to pulmonary fibrosis, thrombosis, inflammation and high blood pressure in the pulmonary circulation system. In parallel with the development of CS1, Cereno Scientific develops CS014 and CS036, two preclinical phase HDAC inhibitors. The company is located in AstraZeneca’s BioVenture Hub and is supported by GU Ventures. Cereno Scientific’s B share has been listed on Spotlight Stock market since June 2016 with the ticker CRNO B, ISIN SE0008241558.
About Inorbit Therapeutics AB
Inorbit Therapeutics (InorbitTX) discovers and develops novel therapeutics for areas with a high unmet medical need and an excellent market perspective. It has special focus on Non Alcoholic Steato Hepatitis (NASH), but does not limit itself to that Therapeutic Area. InorbitTX applies ground breaking, unique chemistry to improve the characteristics of novel highly potent molecules. With this approach, we mitigate the risk for Drug Induced Liver Injury, the major threat for failure of novel drugs in late development, or even in the market place. InorbitTX approach thus de-risks the drug development investment. For more information on InorbitTX, please visit www.InorbitTX.com.
This information is such that Cereno Scientific AB is required to make public in accordance with the EU’s Market Abuse Regulation (MAR). The information was made public by the Company’s contact person above on December 10, 2019.