Renovacor, Inc., a Philadelphia, PA-based preclinical-stage biopharmaceutical company focused on developing gene therapy-based treatments for cardiovascular disease, closed an $11m Series A financing.
The round was co-led by Novartis Venture Fund, Broadview Ventures, and BioAdvance, joined by New Leaf Venture Partners and Innogest Capital.
Led by Magdalene Cook, MD, President and CEO, Renovacor is advancing a recombinant adeno-associated virus (AAV)-based gene therapy for patients suffering from dilated cardiomyopathy (DCM) due to mutations in the BAG3 gene. The foundational understanding of BAG3 mutations and the company’s gene therapy product are based on 10 years of research performed by Dr. Arthur Feldman, MD, PhD, the Laura H. Carnell Professor of Medicine (Cardiology) at the Lewis Katz School of Medicine Temple University.
The company intends to use the funds to advance its gene therapy for a rare cardiovascular disease through filing of an IND in preparation to initiate human clinical trials in DCM patients who have mutations in their BAG3 gene.
In conjunction with the financing, Renovacor announced its leadership team and board of directors including:
– Dr. Cook,
– Dr. Arthur M. Feldman, MD, PhD, FACC, Renovacor’s Founder and the Laura H. Carnell Professor of Medicine (Cardiology) at the Lewis Katz School of Medicine at Temple University,
– Thomas Needham, MBA, Director, Broadview Ventures,
– Dr. Campbell Murray, Managing Director, Novartis Venture Fund, and
– Dr. Edward J. Benz, President and CEO Emeritus of the Dana-Farber Cancer Institute, and currently the Richard and Susan Smith Distinguished Professor of Medicine, Professor of Pediatrics, and Professor of Pathology at Harvard Medical School.