Serenex, a drug discovery and development company in Durham, has secured $31 million in financing.
The round comprises a $26 million Series D private placement of preferred stock and a $5 million working capital debt facility.
Serenex plans to fund the clinical development of two oncology product candidates and to advance promising antifungal, anti-neurodegenerative, antiviral and other non-oncology programs from the company's broad family of Heat Shock Protein 90 (Hsp90) inhibitors.
The round was oversubscribed and included new investors Cornell Capital Partners, Pearl Street Ventures, MC Life Science Ventures and Pac-Link Bio Venture Capital and existing investors Ritchie Capital, Intersouth Partners, Lilly Ventures, Mediphase Venture Partners, Takeda Research Investment and Seaflower Ventures.