By Lisa Kerner
Erie, Pa., May 1 - Cardiokine, Inc. said it closed a $50 million series B preferred share equity offering.
The funds will be used to start phase 3 trials for its lead product candidate, Lixivaptan, a selective V2 vasopressin receptor antagonist for the treatment of hyponatremia, a sodium imbalance that contributes to poor outcomes in a number of disorders, including heart failure and cirrhosis.
New investors Advent Venture Partners and Fidelity Biosciences co-led the financing round, joined by Teachers Private Capital. All of Cardiokine's series A investors, including Perseus-Soros Biopharmaceutical Fund, HealthCare Ventures, Care Capital, CIBC Capital Partners and Burrill & Co. participated in the series B financing.
Shahzad Malik, general partner at Advent Venture Partners, and Stephen Knight, managing partner of Fidelity Biosciences, will join Cardiokine's board of directors.
Located in Philadelphia, Cardiokine is a privately held specialty pharmaceutical company focused on the treatment and prevention of heart failure and related cardiovascular and metabolic indications.
| Issuer: | Cardiokine, Inc.
|
| Issue: | Series B preferred share equity
|
| Amount: | $50 million
|
| Investors: | Advent Venture Partners and Fidelity Biosciences (co-lead), Teachers Private Capital, Perseus-Soros Biopharmaceutical Fund, HealthCare Ventures, Care Capital, CIBC Capital Partners, Burrill & Co.
|
| Announcement date: | May 1
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
