Clementia Pharmaceuticals, Inc., a Montreal, Quebec, Canada-based clinical-stage biopharmaceutical company, secured an additional $10m in Series A funding.
The round was led by OrbiMed Advisors with participation from BDC Venture Capital.
The company, which has now raised to $32.5m, intends to use the funds to develop its lead compound palovarotene for the treatment of fibrodysplasia ossificans progressive (FOP).
Led by Clarissa Desjardins, Ph.D., Chief Executive Officer, Clementia develops and commercializes innovative therapies for people living with rare diseases. The company is advancing Palovarotene, a novel retinoic acid receptor gamma agonist to address diseases of heterotopic ossification, including fibrodysplasia ossificans progressiva.
The company has also established a wholly-owned subsidiary in the U.S. headquartered in Newton, Massachusetts.
10/01/2014: Clementia Pharmaceuticals Closes $22.5M Series A Financing