Chase secures $21 million in series B

Alzheimer's disease play Chase Pharmaceuticals Corp. (Washington, D.C.) raised an undisclosed amount in a tranched $21 million series B round led by new investor New Rhein Healthcare Investors. New investors Edmond de Rothschild Investment Partners (EdRIP) and Cipla Ventures, the new VC arm of Cipla Ltd. (Mumbai, India), and existing investor Brain Trust Accelerator Fund also participated. Next quarter, the company plans to start Phase II testing of CPC-201 to treat AD. CPC-201 is a combination of Aricept donepezil, a reversible acetylcholinesterase (AChE) inhibitor, and an undisclosed "mature" pharmaceutical. Eisai Co. Ltd. (Tokyo:4523) and Pfizer Inc. (NYSE:PFE) market Aricept. ...