CVasThera, a Toulouse, France-based biopharmaceutical company that specializes in the development of novel therapies for cardiovascular and bowel pathologies, secured €1.3m ($1.6M) in first funding.
The round was led by OCSEED, a venture capital company supporting startups in the Occitanie region of France via convertible bonds, supported by an investment loan from Bpifrance, the Occitanie region and a contract with the Agence Nationale de la Recherche, the French National Research Agency.
The company intends to use the funds for clinical stage trials, recruitment of additional team members and support of its pharmaceutical research and development work.
Led by Bruno Le Grand, CEO and co-founder, CVasThera is a biopharmaceutical company specializing in the development of novel therapies for cardiovascular and bowel pathologies. It holds an exclusive global license for two patents resulting from four years of joint research between INSERM (French National Institute of Health and Medical Research), the École des Mines d’Albi (a French engineering school) and the GALA platform.
The company is currently developing its CVT120165 drug candidate for the treatment of Crohn’s disease. Safety data is already available from phase I trials involving healthy volunteers, which were conducted in 2008 in another indication.
CVasThera plans to proceed directly to a pilot phase II trial with Crohn’s patients in 2022.