UPMC, GV, Gates Frontier back $51M financing round for drug discovery company

Pittsburgh-based UPMC Enterprises, GV (formerly Google Ventures), and Gates Frontier participated in the $51 million expansion series B financing round for drug discovery company Cerevance.

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The company will use the financing to support clinical trials focusing on Parkinson’s, amyotrophic lateral sclerosis and schizophrenia. 

The expansion brings the company’s total series B financing round to $116 million, according to a Feb. 13 Cerevance news release provided to Becker’s.

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