CalciMedica Inc., a La Jolla, Calif.-based clinical-stage biotechnology company targeting calcium release-activated calcium (CRAC) channels for the treatment of acute and severe inflammatory diseases, raised $15m in Series C financing.
The round was led by Valence Life Sciences, with participation from new investors Bering Capital, Mesa Verde Venture Partners and existing investor Sanderling Ventures.
The company intends to use the funds towards advancing ongoing clinical trials evaluating our CRAC channel inhibitor, Auxora (formerly CM4620-IE), in patients with COVID-19 pneumonia requiring oxygen therapy and accelerating commercial manufacturing for the drug.
Led by Rachel Leheny, Ph.D., Chief Executive Officer, CalciMedica is a clinical stage biotechnology company focused on CRAC channel drug discovery and development for the treatment of acute and chronic inflammatory diseases. CRAC channels control the entry of calcium into immune and other cell types, and calcium is an important intracellular signaling molecule that modulates normal cellular function but can be detrimental when levels are too high.
The company is advancing Auxora, a potent and selective small molecule CRAC channel inhibitor that prevents CRAC channel overactivation.