Dallas-based Cerebain Biotech Corp. has moved its corporate headquarters from Dallas to Costa Mesa.
The development-stage company is developing a minimally invasive medical device for treating Alzheimer’s disease and dementia. The device would be implanted into a patient’s omentum, which is a layer of tissue surrounding abdominal organs.
Cerebain said earlier this year that it plans to seek Food and Drug Administration approval of the device.
The company is bringing an undetermined number of jobs to its new headquarters at 600 Anton Blvd. in Costa Mesa.
Cerebain Chief Executive Eric Clemons is familiar with OC, having previously worked as president and chief operating officer of GTC Telecom Corp., which operated out of Costa Mesa before merging with Health Network Inc. in Hampton, Va.
Cerebain trades on the low-profile bulletin board stock exchange and had a recent market value of $7.6 million. It gets no analyst coverage.
The company posted a loss of $1.57 million for the nine months ended March 31, and its quarterly Securities and Exchange Commission report notes that its accumulated deficit is $10.7 million.
