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Cardior bags €64m in Series B Financing

Cardior Pharmaceuticals GmbH is funding a Phase II trial with lead candidate CDR132L against mi-R132-induced heart failure.

The €64m Series B financing was led by l Inkef Capital with new co-investors Fund+, Sunstone, Hadean Ventures and Coparion participating. In addition, existing investors LSP, BioMedPartners, Bristol Myers Squibb and High-Tech Gründerfonds (HTGF) renewed their committment. In connection with the financing, representatives of the new investors Inkef Capital, Fund+ and Sunstone join the supervisory board. The funds will mainly be used to prepare and conduct a phase II trial of the oligonucleotide-based inhibitor CDR132L.

The aim of the treatment with CDR132L, an inhibitor of regulatory micro RNA132 (miR-132), is to restore the pumping capacity of the thickened heart wall in patients with heart failure. Data from a completed phase Ib trial show promising safety and early efficacy results from the company’s perspective.

CDR132L is designed to normalise the level of nuclear micro-RNA-132 overexpressed in heart failure patients, which causes cardiac hypertrophy, subsequent fibrosis and consequent limitation of contractility and blood flow.