Existing backers AstraZeneca and Johnson & Johnson returned for a round that will advance PhaseBio's orphan disease drug pipeline, based on research from Duke University.
PhaseBio, a US-based orphan disease drug developer exploiting research from Duke University, closed a $34m series D round on Wednesday that included pharmaceutical firms AstraZeneca and Johnson & Johnson.
Cormorant Asset Management, Rock Springs Capital, Mountain Group Partners, New Enterprise Associates (NEA), Hatteras Venture Partners, Syno Capital and Fletcher Spaght Ventures also took part. Johnson & Johnson invested through Johnson & Johnson Innovation – JJDC.
PhaseBio is working on treatments for orphan diseases and in particular cardiopulmonary disorders that affect…
