Heart Metabolics launches with $20m investment

Melbourne-based Brandon Capital Partners took part in the round on behalf of Australian superannuation fund AustralianSuper. US-based AshHill Investments also participated.

The company is being established through the acquisition of a phase-III-ready drug candidate from London-based HMBL, which was formerly known as Heart Metabolics and received its own funding last year – HMBL secured $4m in early-stage funding from AshHill and Australian VC fund Trans Tasman Commercialisation Fund (TTCF) in January 2013.

The $20m investment will support the acquisition of HMBL's drug candidate and related pre-clinical drug candidates, as well as the further development of Heart Metabolics' new drug portfolio.

Company
Founded in 2014 and based in Dublin, Heart Metabolics plans on further developing a pipeline of drug candidates acquired from HMBL.

The phase-III-ready candidate, perhexiline, is being developed as a potential therapy for hypertrophic cardiomyopathy, which is a hereditary heart disease that thickens the muscular wall of the heart.

Heart Metabolics is currently focusing on obtaining a special protocol assessment (SPA) from the FDA this year to carry out the phase-III clinical trial of perhexiline early next year.

People
Peter Milner is the CEO of Heart Metabolics. Seroba Kernel partner Alan O'Connell is joining the company's board of directors alongside venBio managing partners Corey Goodman and Robert Adelman, as well as Brandon managing director Stephen Thompson.

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• Topics
• Early-stage
• UK / Ireland
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