LSP leads €15m series-A for Cardior Pharmaceuticals

Boehringer Ingelheim Venture Fund, Bristol-Myers Squibb, Biomedpartners (from Biomedinvest III Fund) and High-tech Gründerfonds also invested in the round.

The new funding will allow the company to implement a development plan for its lead compound, which targets RNAs linked to heart failure.

The company will also appoint a new CEO, Claudia Ulbrich, who has a background in operational management and corporate development of biotechnology and pharmaceutical companies.

Company
Cardior Pharmaceuticals was founded in 2016 as a spinout from Hannover Medical School. Thomas Thum led the team that developed non-coding RNA-based therapeutics in heart failure and is now chief scientific officer.

The company hopes to address what Joachim Rothe of LSP and director of Cardior Pharmaceuticals describe as a painful lack of scientific and clinical progress in the cardiovascular field over the past 15 years.

People
Life Science Partners – Joachim Rothe (managing director).
High-Tech Gründerfonds – Marianne Mertens (investment manager).
Cardior Pharmaceuticals – Claudia Ulbrich (CEO).

Advisers
Equity – Dechert, Berthold Hummel, Julia Braun (legal).
Company – Fieldfisher, Stefanie Greifeneder (legal).

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• Topics
• Early-stage
• DACH
• Healthcare
• Germany
• Venture
• High-Tech Gründerfonds
• Life Science Partners
• Dechert