Juventas Therapeutics, a Cleveland, OH-based clinical-stage regenerative medicine company, has closed a $22.2m Series B financing.
The round was co-led by Triathlon Medical Venture Partners and New Science Ventures, with participation from existing investors Fletcher Spaght Ventures, Reservoir Venture Partners and Early Stage Partners and new investors Takeda Ventures, Venture Investors, Global Cardiovascular Innovation Center, Tri-State Growth Fund, Glengary and angel investors.
Founded in 2007 and led by Rahul Aras, Ph.D., President & CEO, Juventas Therapeutics is advancing JVS-100 its lead product encoding Stromal cell-Derived Factor 1 (SDF-1), which has been shown to repair damaged tissue through recruitment of circulating stem cells to the site of injury, prevent ongoing cell death and restore blood flow.
The company intends to use the funding to complete ongoing Phase II clinical trials investigating the use of JVS-100 in treating patients with chronic heart failure or critical limb ischemia.
Both trials are actively enrolling patients.