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Ceregene Raises VC, Signs Genzyme Deal

Ceregene Inc., a San Diego-based developer of gene therapy treatments for neurodegenerative disorders, has raised $28.1 million in Series C funding. The deal closed back in January. Investor Growth Capital led the deal, and was joined by return backers Alta Partners, California Technology Ventures, Cell Genesys Inc., Hamilton BioVentures and MPM Capital. In other Ceregene news, the company has signed a partnership agreement with Genzyme Corp., for the development and commercialization of Ceregene's lead program for the treatment of Parkinson's disease. Under terms of the deal, Ceregene will receive a $25 million up-front cash payment, up to an additional $125 million in milestone payments and 50% reimbursement for Phase III development costs. www.ceregene.com