- CERo Therapeutics (CERO, Financial) secures up to $8 million Series D financing through convertible preferred stock.
- Proceeds to advance FDA IND-approved therapies for liquid and solid tumors, and address Nasdaq compliance.
- Partnership with MD Anderson Cancer Center to activate clinical trial sites.
CERo Therapeutics (CERO), a pioneering immunotherapy company, has successfully secured up to $8 million in Series D financing through a convertible preferred stock transaction. The initial investment of $5 million is set to be received at the first closing, with up to an additional $3 million available at subsequent closings, contingent upon investor discretion.
The funds from this financing will be strategically utilized to advance CERo's recent FDA Investigational New Drug (IND) allowances for therapies targeting both liquid and solid tumors. This will enable the completion of site activation at the prestigious MD Anderson Cancer Center (MDACC), along with the acceleration of additional site activations to propel clinical trial initiatives.
Moreover, the injection of capital is poised to support CERo in meeting the Nasdaq shareholders' equity requirements, thereby ameliorating any previously existing compliance issues. This development is crucial for extending the company's operational runway and maintaining momentum in its transition to a clinical-stage biotech firm.
CERo's innovative approach to engineered T cell therapeutics, which includes employing phagocytic mechanisms, is positioned at the forefront of cancer treatments. The company anticipates that these advancements, supported by the new financing, will allow them to proceed with the imminent dosing of their first acute myeloid leukemia (AML) patient at MDACC, marking a pivotal step in their clinical progression.
