Wilmar unit leads US$50m funding in pharma firm Accera
Claudia Chong
Singapore
WILMAR Ventures, a wholly owned subsidiary of agribusiness group Wilmar International, led the first close of an investment round in brain health-focused pharmaceutical firm Accera. The first close comprised both equity investment and non-dilutive grants totalling US$50 million, and was secured under Accera's new company name, Cerecin. The co-investor was from Cerecin's long-term investor Inventages, the life sciences and healthcare-focused private equity fund backed by the Nestlé Group.
Cerecin said in a press statement that it will use the funds for its global drug development activities as well as the Asia-Pacific launch of Axona, a medical food for the dietary management of persons living with Alzheimer's disease. Discussions with other interested investment groups in the region are ongoing.
