Bristol Myers Squibb returned to reinvest in the cardiac disease therapy developer having backed its 2017 series A round with Boehringer Ingelheim.
Cardior Pharmaceuticals, a Germany-based developer of therapeutics for cardiac diseases based on research at Hannover Medical School, closed a €64m ($76m) series B round today featuring pharmaceutical firm Bristol Myers Squibb (BMS).
The round was led by venture capital firm Inkef Capital and included Fund+, Sunstone Life Science Ventures, Hadean Ventures, Coparion, LSP, BioMedPartners and High-Tech Gründerfonds (HTGF).
Founded in 2016, Cardior is working on non-coding RNA-based therapeutics that would be capable of preventing, repairing and reversing heart diseases by addressing the root causes rather than treating symptoms.
The series B capital has been allocated to the late-stage development of Cardior’s lead asset, CDR132L, which targets microRNA-132, a molecule whose dysregulation contributes to the occurrence of several conditions.
The company completed a $16.5m series A round co-led by BMS and peer Boehringer Ingelheim’s investment arm, Boehringer Ingelheim Venture Fund, in 2017. HTGF and BioMedPartners participated in that round, and tech transfer organisation Ascenion also owns equity in Cardior, having helped to establish the spinout.
The original version of this article appeared on our sister site, Global University Venturing.
