Cardioxyl Pharmaceuticals Raises $28M in Series B Financing

Cardioxyl Pharmaceuticals, Inc., a Chapel Hill, NC-based clinical-stage pharmaceutical company, has raised $28m in Series B financing.

The round was led by OrbiMed Advisors, with participation from new investor Osage University Partners and returning investors New Enterprise Associates (NEA) and The Aurora Funds.

The company intends to use the capital to further advance its second-generation nitroxyl (HNO) donor programs for the treatment of acute and chronic heart failure.

In conjunction with the funding, OrbiMed Venture Partners Peter Thompson, M.D., and Anthony G. Johnson, M.D., have joined Cardioxyl’s Board of Directors.

Led by Chris Kroeger, M.D., President and CEO, Cardioxyl Pharmaceuticals focuses on the discovery and development of new classes of safe and effective therapeutic agents for the treatment of cardiovascular disease. Its core HNO platform has generated several pre-clinical and clinical candidates.



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