Cardiorentis AG, a Zug, Switzerland-based biopharmaceutical company committed to bringing novel therapies to the treatment of heart failure and related cardiovascular diseases, raised CHF60m ($60m) in a Series B financing.
The round was led by three new private investors.
The company intends to use the funds for the commercial build-out of Ularitide.
Led by Chairman & CEO Dr. Johannes Holzmeister, Cardiorentis develops Ularitide, a Phase III treatment for acute decompensated heart failure (ADHF), including upcoming regulatory submissions expected in the second half of 2016. In December 2015, the U.S. Food and Drug Administration granted Fast Track status to Ularitide for the treatment of ADHF.
In addition to the funding, Brent Furse has been named President U.S. & Global Chief Commercial Officer, a newly established senior management position at the firm. Reto Wittwer has been hired as Chief Financial Officer.