Cardior Pharmaceuticals, a Hanover, Germany-based clinical-stage biotech company developing non-coding RNA (ncRNA)-based therapeutics for patients with cardiac diseases, closed a €64m ($76m) Series B financing round.
The round was led by Inkef Capital, supported by fellow new investors Fund+, Sunstone, Hadean Ventures and Coparion with participation from existing investors including LSP, BioMedPartners, Bristol Myers Squibb and High-Tech Gründerfonds. In conjunction with the financing, representatives from Inkef Capital, Fund+ and Sunstone will join the Company’s Advisory Board.
The company intends to use the funds for the late-stage clinical development of its lead program and the expansion of its earlier-stage pipeline.
Led by Dr. Claudia Ulbrich, Chief Executive Officer and Co-Founder, Cardior Pharmaceuticals is a clinical-stage biopharmaceutical company advancing the discovery and development of RNA-based therapeutics designed to prevent, repair and reverse diseases of the heart. Its therapeutic approach uses distinctive non-coding RNAs as an innovative platform for addressing the root causes of cardiac dysfunctions.micro-RNAs are endogenous molecules that function as cellular regulators and their dysregulation contributes to the development of many diseases including cardiovascular diseases.
Its lead candidate is CDR132L, an oligonucleotide-based ncRNA inhibitor targeting micro-RNA-132, intended to block the abnormal cardiac levels of micro-RNA-132 in heart failure patients thereby triggering a concerted therapeutic effect against key hallmarks of heart disease including cardiac hypertrophy, fibrosis, impaired contractility and reduced vascularization.