Catabasis Pharmaceuticals, a Cambridge, Mass.-based biopharmaceutical company dedicated to the discovery and development of medicines to treat inflammatory and metabolic diseases, has raised a $14.5m second tranche of its Series A financing.
Investors include existing backers. In April, Catabasis completed a $39.6m Series A financing led by SV Life Sciences, Clarus Ventures, MedImmune Ventures and Advanced Technology Ventures.
As also stated by Jill Milne, Ph.D., co-founder and CEO of Catabasis, the company intends to use the capital to advance its lead compound to treat type 2 diabetes into clinical studies, further advance two additional programs in the areas of metabolic diseases and inflammation, and continue to support the growth of the company. The lead program is expected to enter human clinical trials in the second half of 2011.
Catabasis has also named board of directors member Michael Ross, Ph.D., managing partner at SV Life Sciences, to chairman.
Founded in 2008, the company has developed a pipeline of molecules that are designed to amplify the beneficial effects of salicylates and omega-3 fatty acids to target the underlying etiologies of a spectrum of complex human diseases.