Catabasis Pharmaceuticals, Inc., a Cambridge, Mass.-based clinical-stage company dedicated to the discovery and development of innovative medicines to treat inflammatory and metabolic diseases, completed a $32.4m Series B financing.
The round was led by new investor Lightstone Ventures, with participation from a public crossover fund and existing investors SV Life Sciences, Clarus Ventures, MedImmune Ventures and Advanced Technology Ventures.
Founded in 2008 by Jill Milne, Ph.D., chief executive officer, Catabasis has a pipeline of medicines to treat dyslipidemias and diseases involving chronic inflammation. Using its proprietary SMART Linker technology, the company conjugates two drugs that act on different components of a disease pathway with the goal of producing new chemical entities with significantly enhanced efficacy and improved safety and tolerability profile.
The company plans to use proceeds to support the advancement of its lead compound, CAT-2003, a modulator of the lipid synthesis pathway, which is currently in a Phase 2 clinical trial in patients with hypertriglyceridemia and in combination with statins in patients with hypercholesterolemia, as well as to support the continued clinical and pre-clinical development of other SMART Linker conjugates in the pipeline.