Ceretype Neuromedicine – a pioneer in the practical application and integration of functional MRI (fMRI) – recently announced that it has closed its second round of seed financing. And the company’s $2 million funding target was oversubscribed.
The funding round was led by Cedar Street Group, LLC, an early-stage venture and seed financing fund based in Westchester, NY. And other participants include Leafy Tunnel, The One Mind Accelerator and several private investors.
Ceretype was launched 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. And 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.
KEY QUOTES:
“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.”
— Cedar Street Group Managing Principal Paul Francis
“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.”
— Ceretype’s Co-Founder & CEO Emily Stern, MD
