Serina Therapeutics, a clinical-stage biotechnology company, secured up to $20 million in financing to advance SER-252 in Parkinson's disease.
The funding structure provides flexibility to support Phase 1b registrational clinical study program.
The agreement includes issuing warrants that could result in additional proceeds of up to $20 million.
Funding Details
Up to $20 million available through an unsecured convertible note in five tranches tied to clinical milestones.
Convertible Note Terms
Matures in five years, convertible into common stock at $5.18 per share with 10% annual interest rate.
Warrant Coverage
Each tranche drawn includes 100% warrant coverage, priced at $5.44 per share, expiring in September 2026.
Clinical Milestones
Plans to submit U.S. IND application in Q4 2025 and start dosing patients in Australia, followed by U.S. enrollment in Q1 2026.
Study Design
SER-252-1b trial to evaluate safety, tolerability, and pharmacokinetics in adults with Parkinson's disease and motor fluctuations.
- The financing will drive pivotal milestones for SER-252's path to registration.
- SER-252 has the potential to transform treatment for advanced Parkinson's patients.
- Strategic funding structure enables flexibility in accessing non-dilutive and strategic resources.
Serina Therapeutics' funding agreement provides a significant boost for advancing SER-252 and marks a crucial step towards addressing the unmet needs of Parkinson's patients.