Hannover, Germany, May 11th 2017 – Cardior Pharmaceuticals, today announced the completion of a €15 million Series A financing round led by LSP (Life Sciences Partners), Boehringer Ingelheim Venture Fund (BIVF), Bristol-Myers Squibb (BMS), BioMedPartners (with its new BioMedInvest III Fund) and High-Tech Gründerfonds (HTGF).
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.
"We are very excited to be leading this financing" said Dr. Joachim Rothe, Managing Partner at LSP and a director of Cardior. "There has been a painful lack of scientific and clinical progress in the cardiovascular field for the past 15 years, and Cardior is well positioned to change this."
In conjunction with this financing, Cardior appointed Dr. Claudia Ulbrich as Chief Executive Officer. Claudia brings with her two decades of operational management and corporate development experience in pharma and biotech including publicly traded companies.
"It is a rare opportunity to develop cutting-edge science in the area of cardiovascular diseases with a high unmet medical need. I am delighted to join Cardior at this exciting development stage of the company and together with its motivated team, quickly put on the map a novel class of drugs and companion diagnostics with the potential to prevent and overcome heart failure" said Dr. Claudia Ulbrich.
"The significant funding raised at this stage of development of the company will provide the resources for an ambitious development plan for our lead compound," added Prof Thomas Thum, who is joining the management team as Chief Scientific Officer.
With a translational approach and multiple established academic collaborations, Cardior is uniquely positioned to apply innovative first-in-class therapy for myocardial infarction and heart failure patients. Cardior is currently developing non-coding RNA based assets and companion diagnostics. Additionally, Cardior has access to a great variety of discovery programs of undisclosed targets of Prof. Thum's pipeline.
About Cardior Pharmaceuticals:
Cardior Pharmaceuticals is a privately held German biotech company pioneering the next generation of non-coding RNA based therapeutics in heart failure. Prof Thomas Thum and his team have built a globally renowned expertise in the non-coding RNA field and demonstrated previously their ability to develop & partner innovative drug candidates. The Medical School Hannover (MHH) and the Institute of Molecular and Translational Therapeutic Strategies (IMTTS) offer a favorable bench-to-bedside environment to support Cardior as one of the world ́s leading centers in RNA biology. The intellectual property was licensed from Medical School Hannover (MHH), the Max-Planck- Society (MPG) and from several world renowned French Institutes.
Cardior is the winner of the Startup Challenge at Deutsche Biotechnologietage 2017, the largest German biotech summit. Founded in 2016 by Prof Thum, Cardior was initially supported by VentureVilla Inkubator, hannoverimpuls and Ascenion. For more information, please visit www.cardior.de
Dr. Claudia Ulbrich, CEO,
+49 511 37484051
Prof. Dr. Dr. Thomas Thum, CSO,
+49 511 532 5272
LSP (Life Sciences Partners) is a leading independent European investment firm, providing financing for private and public life-science companies. Since the late 1980s, LSP's management has invested in a large number of highly innovative enterprises, many of which have grown to become leaders in the global life-science industry. With over €1 billion of investment capital raised to date and offices in Amsterdam, Munich and Boston, LSP is one of Europe's largest and most experienced specialist life-science investors. For more information, please visit www.lspvc.com.
Dr. Joachim Rothe,
Managing Partner LSP
+49 (0) 89 330 666-0
Dr. Karin Kleinhans,
+49 (0) 89 330 666-0