SALT LAKE CITY–(BUSINESS WIRE)–Clene Nanomedicine, Inc., a clinical-stage biopharmaceutical company focused on the development of first-in-class nanocatalysts for the treatment of bioenergetic failure associated with neurodegenerative diseases, today announced the $42.5 million oversubscribed closing of its Series D equity financing. Proceeds from the financing will be used to advance Clene’s clinical pipeline—particularly the lead nanocatalyst, CNM-Au8—an orally administered therapeutic under investigation for the neurorepair of various neurodegenerative diseases including multiple sclerosis, Parkinson’s disease, and ALS, with one Phase 3 trial and four Phase 2 studies ongoing.
Clene worked closely with Salt Lake City-based investment banking firm, Crewe Capital, on the Series D capital raise. “Clene’s noble mission coupled with a laser focus on delivering impressive results and consistently achieving milestone objectives, while partnering with the most credible third-party researchers and institutions around the world makes for a really exciting opportunity,” says Mike Bennett, CEO and Managing Partner of Crewe Capital.
“Hugh Hannesson, Marlo Oaks, and the Crewe Capital team brought two key benefits to us. First, having an understanding of the mechanics of our business and underlying science, and second, bringing broad relationships and reach with sophisticated investors seeking opportunities to participate in the emergence of innovative therapeutics that address the most critical and challenging health issues,” said Rob Etherington, President and CEO of Clene Nanomedicine. “Crewe also made the process efficient and enabled the company to stay focused on advancing the business, which was an invaluable benefit.”
About Clene Nanomedicine
Clene Nanomedicine, Inc. is a privately held, clinical-stage biopharmaceutical company focused on the development of unique therapeutics for neurodegenerative diseases. Clene has innovated a novel nanotechnology drug platform for the development of a new class of orally-administered neurotherapeutic drugs. Clene has also advanced into the clinic an aqueous solution of ionic zinc and silver for anti-viral and anti-microbial uses. Founded in 2013, the company is based in Salt Lake City, Utah with R&D and manufacturing operations located in North East, Maryland. For more information, please visit www.clene.com.
About Crewe Capital
Crewe Capital, LLC is an independent investment banking, securities, and mergers and acquisitions firm. www.crewecapital.com. Crewe Capital, LLC is a registered broker-dealer with the US Securities and Exchange Commission (www.sec.gov), a member of the Securities Investor Protection Corporation (http://www.SIPC.org), and a member of the Financial Industry Regulatory Authority (http://www.finra.org).