--- title: "Cerenome gets up to $20 million royalty-based facility from 3i" url: "https://aibio.space/news/cerenome-gets-up-20-million-royalty-based-facility-3i-lp/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-09-10" section: "Debt Financing" tickers: "NASDAQ:CNSY" source: "https://www.sec.gov/Archives/edgar/data/1095981/000119312526387267/d382364dex991.htm" summary: "Cerenome, Inc. received initial funding under a senior secured facility of up to $20 million from 3i, LP, with royalty-based repayments. The company says i" --- By the aibio.space news desk. Sources - [Cerenome, Inc. 8-K (2026-09-10)](https://www.sec.gov/Archives/edgar/data/1095981/000119312526387267/d382364dex991.htm) - [Cerenome, Inc. 10-K (2026-03-12): business](https://www.sec.gov/Archives/edgar/data/1095981/000119312526104258/pstv-20251231.htm) - [Cerenome, Inc. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1095981/000119312526104258/) [CNSY](https://aibio.space/companies/cerenome/) 2026-09-10 # Cerenome gets up to $20 million royalty-based facility from 3i, LP Tickers [CNSY](https://aibio.space/companies/cerenome/) Cerenome, Inc. received initial funding under a senior secured facility of up to $20 million from 3i, LP, with royalty-based repayments. The company says its cash runway now reaches well into 2028. ## Key facts - **Company**: Cerenome, Inc. (NASDAQ: CNSY) - **News type**: Debt Financing - **Primary source**: [Cerenome, Inc. 8-K (2026-09-10)](https://www.sec.gov/Archives/edgar/data/1095981/000119312526387267/d382364dex991.htm) *An empty boardroom with a long table. CC0, via rawpixel. The picture shows the field, not the companies named.* Cerenome, Inc. entered into a financing agreement with 3i, LP, which the company calls the 3i Fund, for a senior secured facility of up to $20 million with royalty-based repayments. The company said on September 10, 2026 that it received initial funding at closing. Future tranches are available only after the company reaches milestones, and the release does not say what they are. According to the company's 8-K, the financing is documented as senior secured convertible notes, secured by substantially all assets of the company and of its CNSide Diagnostics subsidiary, with a royalty agreement on CNSide revenues. The 8-K names the investor as collateral agent for the noteholders. The press release gives neither the interest rate nor the maturity. ## Use of proceeds and the dilution claim The company said the money will support the scale-up of its laboratory-developed tests, particularly its CNSide CSF assay platform. Chief Financial Officer Andrew Sims said the facility is "designed to be minimally dilutive to stockholders". The release does not quantify any dilution or say how many shares could be issued, so that claim cannot be tested. The release names no placement agent or financial advisor for the facility. ## The business and its losses Cerenome describes itself as a CNS oncology company. Its CNSide Diagnostics subsidiary develops and commercializes cerebrospinal fluid tests designed to identify tumor cells that have spread to the central nervous system in patients with carcinomas and melanomas. The CSF assay platform is also used to inform the management of patients with leptomeningeal metastases. Its therapeutic lead, REYOBIQ, a rhenium Re186 obisbemeda therapy, is being evaluated in clinical trials for leptomeningeal metastases, recurrent glioblastoma and pediatric brain cancers. The release reports no trial results. The annual report on file, which still uses the name Plus Therapeutics, Inc. in its text, describes the lead candidate as designed for direct localized delivery to tumors. The financial position is weaker than the release suggests. Revenue was $5.2 million in 2025, down from $5.8 million in 2024. The net loss was $22.4 million in 2025, up from $13.0 million in 2024. Research and development expense fell to $8.4 million in 2025 from $10.6 million in 2024, but cash used in operations rose to $20.8 million in 2025 from $10.6 million. Year-end 2025 cash and cash equivalents were $4.3 million, with short-term investments of $4.4 million. At June 30, 2026, cash and cash equivalents were $2.4 million and short-term investments were $6.2 million. ## The runway claim Sims said the cash runway is now "well into 2028" once the 3i facility, other existing facilities, current cash and forecast CNSide sales and cash flow are counted. That runway therefore depends on new debt, existing facilities and sales that the company forecasts and the release does not quantify. The annual report's forward-looking statements also list the company's intent or ability to regain and maintain compliance with Nasdaq listing standards. The same list names the company's ability to satisfy its obligations under its capital raising transactions, including registering shares issuable in them, its ability to transfer drug and device manufacturing to a contract manufacturer, its ability to continue as a going concern and its ability to repay or refinance some or all of its outstanding indebtedness. What comes next is set by the milestones attached to the future tranches, which the release does not describe, and by a Form 8-K that the company said would give further transaction details. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story CNSY Cerenome, Inc. 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Cite as: aibio.space, "Cerenome gets up to $20 million royalty-based facility from 3i", 2026-09-10, https://aibio.space/news/cerenome-gets-up-20-million-royalty-based-facility-3i-lp/