Cardior Pharmaceuticals raises €15 million in series A financing

Starting to develop first-in-class ncRNA therapeutics and diagnostics for heart related diseases

11-May-2017 - Germany

Cardior Pharmaceuticals, a spin-off from Hannover Medical School (MHH), today announced the completion of a €15 million Series A financing round led by LSP (Life Sciences Partners), Boehringer Ingelheim Venture Fund (BIVF), Bristol-Myers Squibb (BMS), BioMedPartners (with its new BioMedInvest III Fund) and High-Tech Gründerfonds (HTGF). Cardior is pioneering its proprietary RNA technology to revolutionize predicting and treating heart failure. The molecular targets are non-coding RNAs linked to heart failure development that simultaneously control cardiac growth and calcium handling/contractility of cardiomyocytes. The targeting of certain specific non-coding RNAs reverses maladaptive cardiac remodeling and restores normal cardiac function.

“It is a rare opportunity to develop cutting-edge science in the area of cardiovascular diseases with a high unmet medical need. I am delighted to join Cardior at this exciting development stage of the company and together with its motivated team, quickly put on the map a novel class of drugs and companion diagnostics with the potential to prevent and overcome heart failure” said Dr. Claudia Ulbrich, Chief Executive Officer of Cardior.

“The significant funding raised at this stage of development of the company will provide the resources for an ambitious development plan for our lead compound,” added Prof. Thomas Thum, who is joining the management team as Chief Scientific Officer.

“We are very excited to be leading this financing” said Dr. Joachim Rothe, Managing Partner at LSP and a Director of Cardior. “There has been a painful lack of scientific and clinical progress in the cardiovascular field for the past 15 years, and Cardior is well positioned to change this.”

https://www.bionity.com/en/news/163199/cardior-pharmaceuticals-raises-15-million-in-series-a-financing.html