US-based Alzheimer’s disease treatment developer Chase Pharmaceuticals has raised $12m in equity funding according to a securities filing, with the round likely to have included drug manufacturer Cipla.
India-based Cipla invested $3m in Chase, the Economic Times reported two weeks ago citing a Bombay Stock Exchange filing, shortly after Chase secured $3.5m in funding, as indicated by another securities filing.
Chase is working on treatments for neurodegenerative disorders, and in particular Alzheimer’s disease.
The company’s lead drug program, CPC-201, which works by reducing dose-limiting side effects of Alzheimer’s medication Donepezil, is in phase 2 testing for patients suffering from mild to moderate Alzheimer’s disease.
The funding increased the company’s overall funding to $41m, $21m of which came from a 2014 series B round that included Cipla, New Rhein Healthcare Investors and Edmond de Rothschild Group.