Cardior Pharmaceuticals raises €15 million

Cardior Pharmaceuticals today announced the completion of a €15 million series A financing round. Cardior is pioneering its proprietary RNA technology to revolutionize predicting and treating heart failure. The main technology is based on research from the Medical School Hannover (MHH) in cooperation with the Max Planck Institute for biophysical chemistry in Göttingen, amongst others.

There has been a lack of scientific and clinical progress in the cardiovascular field for the past 15 years, and Cardior is well positioned to change this. The molecular targets, which Cardior is addressing with its technology, 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.

“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 support this exciting development and to create a novel class of drugs and companion diagnostics with the potential to prevent and overcome heart failure together with our motivated team,” said Dr. Claudia Ulbrich.

The basic patent, jointly filed by MHH and Max Planck Society, was licensed exclusively to Cardior from MHH (counselled by Ascenion) and Max Planck Innovation, the technology transfer organization of the Max Planck Society. „We are pleased to have a professional partner with Cardior to efficiently transform the licensed technology into a new medicine with high medical need,“ according to Ulrich Mahr, member of general management of Max Planck Innovation GmbH.

The financing round was concluded 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). The funding will now be used to develop a new lead compound and to quickly collect clinical data.

For more information, please visit http://www.cardior.de