Proceeds from the oversubscribed round will help advance the company’s next-generation fMRI platform.
CAMBRIDGE, Mass.–(BUSINESS WIRE)–Ceretype Neuromedicine, a pioneer in the practical application and integration of functional MRI (fMRI), announced today that it has closed its second round of seed financing. The company’s $2MM funding target was oversubscribed.
The round was led by Cedar Street Group, LLC, an early-stage venture and seed financing fund based in Westchester, NY. Other participants include Leafy Tunnel, The One Mind Accelerator and several private investors.
“We are pleased to support Ceretype and help accelerate their mission to make targeted biomarkers accessible in psychiatric and neurological disease. Ceretype’s proprietary end-to-end platform brings remarkable innovation to the previous shortcomings of traditional fMRI, unlocking a powerful tool to visualize and study brain circuitry at a scale that has not been possible before,” said Cedar Street Group Managing Principal Paul Francis.
Ceretype was founded in 2020 by experts in neuromedicine and brain imaging to translate years of academic research into practical tools that will transform therapeutic development and clinical care. Since its founding, Ceretype has partnered with several pharmaceutical and biotech companies to help visualize and quantitatively analyze the impact of their treatments on the functional networks within patients’ brains.
“We are grateful for our investors’ continued support and excitement around our groundbreaking fMRI platform. This investment will allow us to continue to make fMRI more accessible, and to deliver actionable evidence to improve drug discovery and, ultimately, patient care,” said Ceretype’s Co-Founder & CEO Emily Stern, MD.
About Ceretype Neuromedicine
Ceretype has pioneered the practical application & integration of fMRI in neuropsychiatric drug development and beyond. Our uniquely scalable end-to-end platform makes targeted biomarkers accessible, delivering actionable evidence to improve drug discovery and, ultimately, patient care. Through its superior technical approach and its unique ability to sub-type and classify the human brain on a neurobiological level, Ceretype offers novel, precise, biologically-based therapeutic insights. For more information, please visit www.ceretype.com.
Contacts
Corey MacGregor
Head of Business Development
Ceretype Neuromedicine
cmacgregor@ceretype.com