Cardurion Pharmaceuticals, Inc., a Burlington, MA-based clinical-stage biotechnology company developing next-generation therapeutics for the treatment of cardiovascular diseases, raised $260m in Series B financing.
The round was led by Ascenta Capital, with participation by new investors NEA, GV, Fidelity Management & Research Company, Millennium Management, Farallon Capital Management, Invus, Blue Owl Healthcare Opportunities, Delos Capital and Digitalis Ventures, as well as existing investors Bain Capital Life Sciences and Bain Capital Private Equity. In conjunction with this financing, Evan Rachlin, MD, Co-Founder and Managing Partner from Ascenta Capital, Dan Lynch, Executive Venture Partner from GV, and Ed Mathers, Partner from NEA, will join the Cardurion Board of Directors.
Led by Peter Lawrence, Chief Executive Officer, Cardurion Pharmaceuticals is a clinical-stage biotechnology company focused on the discovery and development of novel, next-generation therapeutics for the treatment of cardiovascular diseases.
The company intends to use the funds to conduct later-stage clinical trials with its two lead drug candidates, a first-in-class phosphodiesterase-9 (PDE9) inhibitor for heart failure and the first clinical-stage Calcium/Calmodulin-dependent Protein Kinase II (CaMKII) inhibitor with broad therapeutic potential. In addition, the funding will be used to expand the cardiovascular indications for Cardurion’s portfolio of drug candidates, to progress internal discovery programs and to acquire additional therapeutic assets targeting unmet needs in the cardiovascular disease area.
Based on recent clinical validation of Cardurion’s PDE9 program, the company is now evaluating its lead PDE9 inhibitor, CRD‑750, in two Phase 2 clinical trials in 640 patients with both types of heart failure, HFrEF and HFpEF. The company also has an ongoing Phase 2 clinical trial for its lead CaMKII inhibitor, CRD-4730, for the treatment of catecholaminergic polymorphic ventricular tachycardia (CPVT), a rare genetic arrhythmic disease. Cardurion also plans to pursue development of CaMKII inhibitors in additional major cardiovascular indications. This new investment will enable the company to scale its team and continue to build industry-leading capabilities in cardiovascular drug innovation.
FinSMEs
16/07/2024