Cardurion Pharmaceuticals raises $260 million in Series B funding

Cardurion Pharmaceuticals, Inc.a Burlington, Massachusetts-based clinical-stage biotechnology company developing next-generation therapeutics to treat cardiovascular disease, has raised $260 million in Series B funding.

The round was led by Ascenta Capital, with participation from 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. As part of this financing, Evan Rachlin, MD, Co-Founder and Managing Partner of Ascenta Capital, Dan Lynch, Executive Venture Partner of GV, and Ed Mathers, Partner of NEA, will join Cardurion’s 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 disease.

The Company intends to use the funds to conduct late-stage clinical trials of its two lead drug candidates, a 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 financing will be used to expand the cardiovascular indications for Cardurion’s portfolio of drug candidates, advance internal discovery programs and acquire additional therapeutic assets targeting unmet needs in the cardiovascular disease space.

Based on the recent clinical validation of Cardurion’s PDE9 program, the Company is currently 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 arrhythmia disorder. Cardurion also plans to advance the development of CaMKII inhibitors for additional key cardiovascular indications. This new investment will allow the Company to grow its team and continue to build industry-leading capabilities in cardiovascular drug innovation.

FinSMEs

16.07.2024