MyoKardia, Inc., a South San Francisco, CA-based developer of precision therapies for genetic heart disease, completed a $46m Series B financing.
Backers included an undisclosed public investment fund, Casdin Capital, Cormorant Asset Management, Perceptive Life Sciences, an affiliate of Cowen Group, and BridgeBio LLC and existing investor Sanofi.
The company intends to use the funds to advance and expand its portfolio of potential therapies for hypertrophic and dilated cardiomyopathies (HCM and DCM), including its lead drug candidate, MYK-461, which is currently in Phase 1 clinical trials.
Launched in 2012 by Third Rock Ventures and led by Tassos Gianakakos, chief executive officer, MyoKardia is developing a portfolio of potential treatments for HCM and DCM, each designed to specifically target an underlying molecular mechanism causing disease. MYK-461 targets one of the most common molecular mechanisms causing HCM and aims to correct the overcontraction driving the disease process and restore cardiac contractility to normal levels.