Curated News
By: NewsRamp Editorial Staff
January 10, 2025
Clene Secures $10M Debt Facility for ALS Drug Approval Process
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- Clene secured a new $10 million debt facility, ensuring funds for data generation to support lead drug candidate CNM-Au8 for ALS.
- Clene focuses on improving mitochondrial health and neuronal function with CNM-Au8 to treat neurodegenerative diseases like ALS and MS.
- Clene's research aims to enhance patient outcomes by developing treatments for neurodegenerative diseases, potentially improving quality of life.
- Clene's innovative approach targets mitochondrial function and oxidative stress to improve central nervous system cell survival and function with CNM-Au8.
Impact - Why it Matters
This news highlights Clene's progress in securing funding for its drug development efforts, specifically focusing on treating neurodegenerative diseases like ALS. The support of the FDA and the company's strategic financial decisions signify a step forward in potentially providing effective treatment options for patients with debilitating conditions.
Summary
Clene (NASDAQ: CLNN) and its subsidiary, Clene Nanomedicine Inc., secures a $10 million debt facility to support the new drug application for lead candidate CNM-Au8 for ALS. The funds will enable the company to generate additional data requested by the FDA to expedite approval.
CEO Rob Etherington believes the extended interest-only period provided by the facility will give Clene the cash runway needed for operations. CNM-Au8® is a first-in-class therapy targeting mitochondrial function and the NAD pathway to treat neurodegenerative diseases such as ALS, Parkinson's, and MS.
Source Statement
This curated news summary relied on this press release disributed by InvestorBrandNetwork (IBN). Read the source press release here, Clene Secures $10M Debt Facility for ALS Drug Approval Process
