Armetheon, Inc., a San Francisco Bay area-based biopharmaceutical company focused on developing novel mid- to late-stage cardiovascular drug candidates, raised $7.0m in Series A round of financing.
The round was co-led by AshHill Biomedical Investments and Hercules Bioventures with participation from Atheneos Capital and biotech entrepreneur and pharmaceutical executive, Dr. Larry Hsu, the founder of Impax Laboratories.
Founded in 2011 by M. (Ken) Kengatharan, PhD, President & COO, Armetheon has late-stage clinical drug candidates in development for use in the areas of oral anticoagulation and atrial fibrillation.
Earlier this year, the company reached an agreement with the U.S. Food and Drug Administration (FDA) on a Special Protocol Assessment (SPA) for the final pivotal trial, TACT (Tecarfarin for AntiCoagulation Trial), for Tecarfarin, which is being investigated for all patients who require an oral anticoagulant (OAC), including patients with mechanical heart valves (MHV).
The funds will be used to keep its NDA filing timeline in 2017 for Tecarfarin.