Cardior Pharmaceuticals today announced the completion of a €15 million Series A financing round led by independent European life sciences investment firm LSP (Life Sciences Partners) with further institutional life sciences investors Bristol-Myers Squibb (BMS), BioMedPartners (with its new BioMedInvest III Fund), Boehringer Ingelheim Venture Fund (BIVF) and High-Tech Gründerfonds (HTGF). The funds raised will foster the development plan in order to develop Cardior’s proprietary RNA technology to revolutionize predicting and treating heart failure. Myocardial infarction (MI) is the most important cause of human heart failure, a life-threatening condition affecting a large number of hospitalized people in the world.
The Dechert team was co-led by corporate partner Berthold Hummel and senior associate Julia Braun (both in Munich), with additional support from Frankfurt-based antitrust national partner Clemens Graf York von Wartenburg, New York-based intellectual property special counsel Violetta Kokolus and Munich-based corporate associate Clara Volwahsen.
Cardior is pioneering its proprietary RNA technology to revolutionize predicting and treating heart failure. The molecular targets are non-coding RNAs linked to heart failure development that simultaneously control cardiac growth and calcium handling / contractility of cardiomyocytes. The targeting of certain specific non-coding RNAs reverses maladaptive cardiac remodeling and restores normal cardiac function. Cardior’s IP is licensed from Medical School Hannover (MHH), the Max-Planck- Society (MPG) and from several world renowned French Institutes as part of the transaction.
Dechert advised the investor syndicate led by LSP on all legal and tax aspects of the transaction, including the equity financing, in-licensing of the intellectual property and know-how from MHH and MPG, as well as the hiring of key personnel including the appointed CEO Dr. Claudia Ulbrich and CSO Prof. Dr. Dr. Thum.
Read the release in German (PDF): "Cardior Pharmaceuticals schließt Serie A Finanzierungrunde über € 15 Millionen ab und ernennt CEO und CSO".
Read the full releases:
“Cardior Pharmaceuticals raises €15 million and appoints CEO and CSO”
“LSP leads € 15m Series A Round of cardiovascular start-up Cardior Pharmaceuticals”
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