A Triangle drug research company today announced $4.85 million in private financing, bringing the total amount it has raised to nearly $60 million.
Cary-based CeNeRx BioPharma plans to use the money to complete Phase II trials of TriRima, a drug under development for treatment-resistant depression, one of the most devastating forms of the mood disorder.
The company is enrolling 360 patients to test the drug and expects to complete the study by the middle of next year.
There are limited medications available for treatment-resistant depression, typically anti-psychotics with significant side effects and without long-lasting benefits.
TriRima is designed as a single medication to replace the risky drug cocktails used for treatment-resistant depression.
CeNeRx, formed in 2005, has a dozen employees. The company's goal is to advance TriRima to Phase III clinical trials, as required for approval by the U.S. Food and Drug Administration.
Investors for the latest financing round were Perseus Soros Biopharmaceutical Fund, L. Capital Partners, Pappas Ventures and Omega Funds.