Accera, a Singapore-based pharmaceutical company, has announced the first close of its $50 million investment round led by Wilmar Ventures, a venture capital arm of agribusiness company Wilmar International.
Following the investment, Accera has rebranded itself to Cerecin and relocated its global headquarters to Singapore, with support from Singapore’s Economic Development Board.
The fresh capital will help fund Accera’s global drug development activities and the Asia Pacific launch of Axona, a medical food for the dietary management of persons living with Alzheimer’s disease.
The company said that the first close of the investment round comprised both equity investment and non-dilutive grants, totaling $50 million. The round also encompassed of co-investment from investor healthcare-focused private equity firm Inventages.