Heartseed, a Tokyo, Japan-based biotechnology company developing iPSC-derived cardiomyocytes for heart failure (HF), raised 2 Billion JPY in Series D funding.
The round, which brought the total amount to 10.2 Billion JPY (approx. $74M), saw participation from Japan Co-Invest IV Limited Partnership, Arcus South East Asia, Atsushi Sakano, Koei Tecmo Capital, Nikon-SBI Innovation Fund, SMBC Venture Capital, Private Equity Co-Invest II Limited Partnership, UTokyo Innovation Platform, Medical Incubator Japan, and Keio Innovation Initiative.
The company intends to use the funds to complete the Phase 1/2 clinical trial of its lead asset, HS-001 for HF in Japan, as well as to establish an organization for its launch, and examine a less invasive administration such as transendocardial injection using a catheter for global development by Novo Nordisk.
Led by CEO Keiichi Fukuda, Heartseed is a biotechnology company that offers HS-001, its allogeneic iPSC-derived, highly purified ventricular cardiomyocyte spheroids. The expected mechanism of action is that the transplanted cardiomyocytes electrically couple with the patient’s myocardium to improve cardiac output by remuscularization, and secretion of angiogenic factors to form new blood vessels around the transplant site (neovascularization).
FinSMEs
25/05/2023