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ARTICLE | Financial News

Venrock leads Corvidia's $60M series B

April 25, 2018 8:43 PM UTC

Corvidia Therapeutics Inc. (Waltham, Mass.) raised $60 million in a series B round led by Venrock. Fellow new investors Andera (formerly Edmond de Rothschild Investment Partners), Cormorant Asset Management, HBM Healthcare Investments, Fresenius Medical Care Ventures and Venrock Healthcare Capital Partners (VHCP) participated, as did existing investors Apple Tree Partners, the MedImmune LLC unit of AstraZeneca plc (LSE:AZN; NYSE:AZN) and Sofinnova Partners.

The cardiovascular and cardio-renal company's lead candidate, COR-001, is in Phase II testing to treat dialysis-dependent advanced chronic kidney disease (CKD) in patients with an undisclosed genetic mutation that Corvidia's CEO Marc de Garidel said increases risk of inflammation. Corvidia plans to report Phase II data in 2H18, he said. The mAb is also in Phase I testing to treat CKD patients not on dialysis...