Corvidia Therapeutics Inc., a Waltham, Mass.-based clinical stage biotechnology company, closed a $60m Series B funding round.
The round was led by Venrock with participation from Andera (formerly Edmond de Rothschild), Cormorant Asset Management, HBM Healthcare Investments, Fresenius Medical Care Ventures GmbH and Venrock Healthcare Capital Partners (VHCP) and existing backers Apple Tree Partners, MedImmune, the global biologics Research and Development arm of AstraZeneca, and Sofinnova Partners.
The company intends to use the funds to accelerate growth of its ongoing clinical programs, expand scientific and market access capabilities and explore new treatment areas.
Led by Marc de Garidel, CEO, Rahul Kakkar MD, Chief Medical Officer and Chief Strategy Officer, Matt Devalaraja, DVM, PhD, Executive Vice President and Head of Research and Development, Ram Aiyar, PhD, MBA, Executive Vice President and Head of Business Development, and Michael Davidson MD (former chief executive officer), Chief Science Officer, Corvidia Therapeutics is a clinical stage biotechnology company pioneering the next generation of cardiovascular and cardio-renal therapies. Its pipeline programs utilize functional genomics to identify patients with unique sensitivity to specific biologic pathways, allowing for rapid development and an accelerated path-to-market for drugs targeting those pathways. Among its portfolio of novel therapeutic candidates, it presently has an experimental therapy in Phase 2 development for a genetically-defined patient population with chronic kidney disease.
Other preclinical programs are in various stages of development and are focused on cardiovascular diseases.