Cereno Scientific obtains the right to inlicense a preclinical candidate from University of Michigan through an option agreement
Cereno Scientific today announced that an option agreement has been signed with the University of Michigan obtaining the exclusive rights to evaluate the market potential for a preclinical drug candidate. The agreement grants Cereno the rights to evaluate the drug candidate in a preclinical development program during a time period of up to 27 months. If the evaluation is successful, Cereno can exclusively inlicense the drug for further clinical development and commercialization. This marks an expansion of Cereno’s project portfolio with a promising preclinical drug candidate in cardiovascular diseases.
“We are pleased to enter this agreement with the University of Michigan after our initial evaluation of this promising drug candidate. This is a great fit with our strategy to develop new treatments for common and rare cardiovascular diseases,” says Sten R. Sörensen, CEO at Cereno Scientific. “We are excited to kick this off and, if successful, for the commercial value we believe this will add to Cereno as the candidate progresses through the drug development process.”
Cereno will share more details about the company’s preclinical programs as they develop. Additional terms in the option agreement are not disclosed.
For further information, please contact:
Daniel Brodén, CFO
Tel: +46 768 66 77 87
This information is information that Cereno Scientific AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 12:30 CET on March 12, 2021.
About Cereno Scientific AB
Cereno Scientific is a leading clinical stage biotech company within cardiovascular epigenetic modulation. The lead drug candidate, CS1, is a Phase II candidate in development for the treatment of the rare disease pulmonary arterial hypertension (PAH) and thrombotic indications. CS1 is an HDAC (Histone DeACetylase) inhibitor that acts as an epigenetic modulator with anti-thrombotic, anti-inflammatory, anti-fibrotic and pressure-relieving properties, all relevant for PAH. A clinical phase II study for CS1 in PAH is expected to be initiated in mid-2021 under its US FDA granted orphan drug designation (ODD) status. In addition, Cereno has a preclinical HDAC inhibitor development program targeted at treating cardiovascular diseases. The company is headquartered in AstraZeneca’s BioVenture Hub, Sweden, and has the US subsidiary Cereno Scientific Inc. based in Kendall Square in Boston, Massachusetts, US. Cereno is listed on the Swedish Spotlight Stock Market (CRNO B). More information on www.cerenoscientific.com.