It was learned that on November 15, 2018, the United States-based precision neuroscience company, Cadent Therapeutics (hereinafter referred to as "Cadent", announced that it had received $40 million in Series B financing. The current round of funding was led by Cowen Healthcare Investments and Atlas Venture, along with Qiming Venture Partners, Access Industries, Clal Biotechnology Industries and Novartis Institutes for Biomedical Research. In addition, the company has appointed Dr. Bob (Ibrahim) Dagher as its Chief Medical Officer.
This round of financing will be used primarily to advance Phase 2 clinical trials and expand the board of directors for drug development in primary tremor and spinocerebellar ataxia.
At present, cognitive and motor impairment affects the ability of millions of Americans to think, speak, understand, and act. Among them, ion channels play an important role in the communication between neurons and the regulation of the generation of neural signals. Cadent is developing a new ion channel allosteric modulator to improve the emission of neurons. This innovative approach has the potential to restore neuronal control in patients with cognitive and motor impairment.
Image courtesy of Cadent
Cadent's main development plan, CAD-1883, is a SK (small-conductance calcium-sensitive potassium channel) positive allosteric modulator (PAM). This study is mainly used to treat essential tremor (ET) and spinocerebellar dysfunction. Disorder (SCA). The SK channel regulates the amount of potassium that enters the cell. In clinical studies, CAD-1883 has been shown to have the ability to modulate neuronal firing, improve control, and reduce tremor. CAD-1883 is currently in Phase 1 dose escalation trials and the drug has so far shown to be well tolerated at all doses tested.
ET is a neurological disorder characterized by uncontrolled trembling or shaking of various parts of the body, including the head, hands, neck and chin. It is one of the most common dyskinesias, affecting about 10 million people in the United States alone, but unfortunately the standard of care for this disease has not improved significantly over the past 40 years.
SCA is a hereditary degenerative nervous system disease that affects approximately 6,000 people in the United States and is easily identified by genetic testing. SCA is a progressive disease that causes continuous damage to the cerebellum of a patient. The cerebellum is the main brain area where the body regulates motor control and balance.
Cadent is also developing another drug candidate for preclinical development that aims to address NMDAr (N-methyl-D-aspartate receptor) dysfunction in patients with schizophrenia.
In addition to these two projects, Cadent has signed an exclusive licensing and cooperation agreement with Novartis to develop a negative allosteric modulator for the treatment of patients with depression. The drug is currently in Phase 1 clinical stage.
The new chief medical officer of Cadent, Dr. Bob (Ibrahim), has nearly 20 years of experience in pharmaceutical implementation and pharmaceutical development. He also recently served as Senior Medical Director of Covance Neuroscience Clinical Development Services. Previously, he worked for Sanofi-Genzyme and GlaxoSmithKline, and during his tenure, he oversaw the implementation of clinical development projects in the field of neuroscience and rare disease treatment.
Cadent's President and CEO Michael Curtis said: "In a short period of time, Cadent has achieved several important milestones. This round of financing will enable us to continue to improve the lives of patients with neurological diseases. We are very happy that we lead We are encouraged by the potential of two programs for the treatment of progressive neurological diseases to enter clinical development, especially for the second project for the treatment of schizophrenia."
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