Friday, August 18, 2006

Accera, Inc. Closes $7.5M Series B

Broomfield, CO based Accera, Inc., a drug development company focused on Alzheimer’s disease and related neurodegenerative diseases, announced it has recently closed a Series B financing of $7.5M led by returning investors Inventages Venture Capital, POSCO BioVentures and several unnamed private investors. In 2004 Accera closed their $6M Series A round.

Based upon their Neuron Energetics Technology platform, Accera has developed novel treatments to alleviate both defects in glucose utilization and lipid metabolism. These treatments are designed to increase energy to neuronal cells and provide raw materials for cholesterol and acetylcholine synthesis.

Proceeds of this financing will be used for a Phase II clinical trial of AC-1202 for Age Associated Memory Impairment, completion of an ongoing Phase IIb clinical trial for mild-to-moderate Alzheimer’s disease and expansion of the drug discovery program for small molecule compounds.

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