Cerenome, Inc. (NASDAQ: CNSY), a central nervous system oncology company, announced it has entered into a senior secured financing agreement with 3i, LP for up to $20 million with royalty-based repayments.

Under the agreement, the company received initial funding at closing, with additional tranches available upon achieving certain milestones. The financing is intended to support the scale-up of Cerenome's laboratory-developed tests, including its CNSide® cerebrospinal fluid assay platform.

Andrew Sims, Cerenome's Chief Financial Officer, said the facility is "designed to be minimally dilutive to stockholders while supporting the next stage of commercial scale-up and development of CNSide, specifically growing sales and broadening the pipeline." Sims added that the company forecasts its cash runway now extends "well into 2028" when accounting for the 3i facility, other existing facilities, current cash, and forecasted CNSide-related sales and cash flow.

Additional details of the transaction are to be filed in a Current Report on Form 8-K with the U.S. Securities and Exchange Commission.