USA—Biotechnology startup Cardurion Pharmaceuticals has raised a US$260 million Series B round to expand its portfolio of heart disease drugs.
This financing 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, alongside existing investors Bain Capital Life Sciences and Bain Capital Private Equity.
Bain Capital has previously invested significantly in Cardurion, contributing up to US$300 million in 2021.
The proceeds from this latest financing will support later-stage clinical trials for the company’s 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.
Additionally, with this new 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.
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 involving 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, targeting catecholaminergic polymorphic ventricular tachycardia (CPVT), a rare genetic arrhythmic disease.
Cardurion plans to further develop CaMKII inhibitors for additional major cardiovascular indications.
This new investment will enable the company to scale its team and continue building industry-leading capabilities in cardiovascular drug innovation.
Expressing his enthusiasm, Peter Lawrence, Chief Executive Officer of Cardurion, welcomed Ascenta Capital and the new investors, who share the vision of becoming a world-class cardiovascular innovator.
He emphasized that cardiovascular disease remains the leading cause of death globally and highlighted Cardurion’s commitment to addressing unmet needs with new therapeutic targets.
Lawrence also noted the company’s experienced team’s ability to translate emerging science into groundbreaking therapeutics, now moving both programs into later-stage clinical studies to further evaluate efficacy in patients.
Dr. Rachlin added that Ascenta was impressed by the significant clinical data generated by Cardurion’s innovative cardiovascular drug candidates.
He expressed excitement about the potential for these new therapies to address crucial needs in cardiovascular treatment and looked forward to partnering with Cardurion to advance its mission.
Be the first to leave a comment