Armgo Pharma, an Ardsley, New York-based novel small molecule therapeutics company developing treatments for cardiac, musculoskeletal, and neurological disorders, closed a $35m financing round.
The round was led by Forbion with participation from Pontifax and Kurma Partners. In conjunction with the funding, Dr. Geert-Jan Mulder and Dr. Dmitrij Hristodorov from Forbion, Dr. Iyona Rajkomar from Pontifax and Dr. Peter Neubeck from Kurma will join Armgo’s Board of Directors.
Proceeds will fund further clinical development of its lead asset, ARM210, for the treatment of catecholaminergic polymorphic ventricular tachycardia (CPVT) as well as other cardiac and skeletal muscle indications.
Led by Gene Marcantonio MD PhD, President and Chief Medical Officer, Armgo Pharma is a biopharmaceutical company dedicated to applying original, targeted science to the discovery and development of novel small-molecule therapeutics to treat debilitating cardiac, musculoskeletal, and neurological disorders. The company’s proprietary drugs, known as Rycals®, are a new class of oral agents that repair calcium leaks through the RyR. Armgo Pharma has been awarded an exclusive, worldwide license from Columbia University for its RyR technology based on the research of founding scientist Andrew R. Marks, M.D.
The investment will fund Phase 2 clinical studies, commencing later this year, to evaluate ARM210 for the treatment of CPVT, a rare form of ventricular tachycardia and sudden death caused by mutations in the ryanodine receptor 2 (RyR2) which controls Ca2+ homeostasis in cells.
FinSMEs
03/01/2021