Renovacor Closes $11 Million Series A Financing to Advance First Gene Therapy for a Rare Cardiovascular DiseaseAug 14, 2019
August 14, 2019 07:00 AM Eastern Daylight Time
PHILADELPHIA–(BUSINESS WIRE)–Renovacor, Inc, a preclinical-stage biopharmaceutical company focused on developing transformative gene therapy-based treatments for cardiovascular disease, today announced the successful completion of an $11 million Series A financing co-led by Novartis Venture Fund, Broadview Ventures, and BioAdvance, and joined by New Leaf Venture Partners and Innogest Capital.
Renovacor’s lead program is a recombinant adeno-associated virus (AAV)-based gene therapy for patients suffering from dilated cardiomyopathy (DCM) due to mutations in the BAG3 gene. The foundational understanding of BAG3 mutations and the Company’s gene therapy product are based on 10 years of research performed by Dr. Arthur Feldman, MD, PhD, the Laura H. Carnell Professor of Medicine (Cardiology) at the Lewis Katz School of Medicine Temple University. Proceeds from the Series A financing will be used to advance the Company’s first-of-its-kind gene replacement therapy through filing of an IND in preparation to initiate human clinical trials in DCM patients who have mutations in their BAG3 gene.