Celladon raises $38 million in follow-on

Gene therapy play Celladon Corp. (NASDAQ:CLDN) raised $38 million through the sale of 4 million shares at $9.50 in a follow-on underwritten by Credit Suisse; Jefferies; Stifel; and Wedbush PacGrow. Celladon said it planned to sell 4 million shares in the offering earlier this month, when its share price was $11.54. Celladon proposed the follow-on last month.

Celladon's lead product, Mydicar, is in the Phase IIb CUPID 2 trial to treat advanced heart failure, with data expected in April 2015. The product is a recombinant adeno-associated viral (AAV) vector carrying the gene for sarcoplasmic reticulum ATPase Ca++ transporting cardiac muscle slow twitch 2 ( ATP2A2; SERCA2A). ...