Cardior Pharmaceuticals announced the closing of a €64 million ($76 million) Series B financing round. The round was led by Inkef Capital, Amsterdam, The Netherlands; other new investors include Fund+, Sunstone, Hadean Ventures, and Coparion, as well as existing investors including LSP, BioMedPartners, Bristol Myers Squibb, and High-Tech Gründerfonds. The Series B proceeds will be used to fund the clinical development of Cardior’s lead program and to expand its pipeline. The lead candidate is CDR132L.
CDR132L is a highly stable, water-soluble oligonucleotide ncRNA inhibitor designed to block abnormal micro-RNA-132 levels. micro-RNAs are endogenous molecules that function as cellular regulators. Their dysregulation contributes to the development of many diseases. CDR132L has completed Phase 1b development and has demonstrated a favorable safety profile and positive cardiac effects in 28 heart failure patients. Cardior is currently initiating a Phase II clinical trial.
Cardior’s approach applies to a broad spectrum of heart diseases (including cardiac hypertrophy, fibrosis, impaired contractility, and decreased vascularization). The company’s development pipeline includes therapeutics that address major cardiac indications as well as rare diseases such as hypertrophic and dilated cardiomyopathies.
- Cardior Pharmaceuticals GmbH, Hanover, Germany