Cadenza Bio, Inc. Secures $2.44M in Oversubscribed Series Seed Financing

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Dec 14, 2023, 08:00 ET

Preclinical biotechnology company initially focusing on therapeutic drug development to promote remyelination in Multiple Sclerosis

OKLAHOMA CITY, Dec. 14, 2023 /PRNewswire/ -- Cadenza Bio, Inc. (Cadenza), a privately-held biotechnology company focused on developing novel small molecule compounds for demyelinating and inflammatory diseases, has announced the initial closing of an oversubscribed $2.44M Series Seed financing. Plains Ventures led the financing, with participation from the Oklahoma Life Science Fund, Cortado Ventures, Boyd Street Ventures, and Illinois Ventures. The financing supports non-clinical safety and toxicology studies to advance Cadenza's lead development candidate, CAD-1, for treatment of Multiple Sclerosis (MS), and additionally provides funds to develop secondary indication(s).

Launched in 2022 through a partnership between SmartHealth Catalyzer in Chicago and Ascend BioVentures in Oklahoma City, Cadenza Bio holds an exclusive license to technology developed through an academic research collaboration between Dr. John Katzenellenbogen of the University of Illinois Urbana-Champaign (UIUC) and Dr. Seema Tiwari-Woodruff of the University of California, Riverside (UCR) and funded, in part, by the National Multiple Sclerosis Society's Fast Forward commercial research program.

MS is a potentially debilitating disease where the immune system attacks and removes the protective myelin layer covering on nerve fibers in the brain and spinal cord, thereby inhibiting communication between the brain and the body and also causing nerve loss. This leads to a range of symptoms including fatigue, visual disturbances, muscle rigidity and spasms, mobility challenges, and pain. Current approved drugs for MS focus on dampening the immune attack to reduce disease recurrences, however, these treatments do not prevent deterioration of the nerves, nor do they repair ongoing damage.

Drs. Katzenellenbogen and Tiwari-Woodruff discovered and, through UIUC and UCR, patented a novel series of potent and selective Estrogen Receptor β targeted compounds that uniquely impart beneficial neuroprotective and immunomodulatory effects. Therapeutic administration of these compounds results in the reversal of symptoms and functional motor improvement in animal models of MS, offering great potential to halt progression, promote repair, and restore function.

"We proudly support Cadenza's efforts to dramatically improve the lives of patients suffering from demyelinating disease. Our conviction in Cadenza is multifaceted; CAD-1 is an elegant solution to a primary market need, there are strong opportunities for secondary indications in the future, and the company has assembled an extraordinary team of women to lead the way," said Plains Ventures President and Managing Director, Justin Wilson.

"My co-founder Dr. Elaine Hamm and I are thrilled to have this strong syndicate of early investors supporting Cadenza's drug development program," said Dr. Carol Curtis, Chief Executive Officer of Cadenza Bio. "Our goal goes beyond incremental improvements. We are dedicated to breaking the cycle of disease and, in doing so, transforming lives. We aim not only to alleviate symptoms but to halt progression, promote repair and restore quality of life to enable full activity, empowering patients to regain control over their health."

About Cadenza Bio, Inc.
Cadenza Bio, Inc. was founded in 2022 to accelerate and support the development of a series of novel, and highly selective Estrogen Receptor β (ERβ) targeting small-molecule compounds. We are dedicated to advancing therapeutic drugs that will make a meaningful impact in the lives of patients suffering from debilitating diseases. For more information please visit www.cadenza.bio

SOURCE Cadenza Bio, Inc.