Korean investors infuse $40M in Singapore-based biotech firm Cerecin

Cerecin Inc., a clinical-stage biotechnology company based in Singapore and the US, has raised $40 million in an oversubscribed round of financing. A Series II investment was initially made by long-term investor, Nestlé. In follow up to this round, Series IIA was led by SK Securities, Hana Financial Investment, Partners Investment, Arche Investment, and K&T Investment. Other new investors that participated in this round included Shinhan Investment, IBK Capital, KB Financial Group, M Capital, and Medici Investment. Ki Kab Kim of K&T Partners and Jae An of Partners Investment join Cerecin’s Board as Board Director and Board Observer. Concurrent with this transaction, Cerecin signed an agreement with Hana Financial Investment to act as the Lead Manager in a potential listing on the Korea Exchange (KRX). The proceeds of this financing will fund the expansion of the company’s current studies and support the planning and initiation of a global Phase 3 study in Alzheimer’s disease.