Heart Metabolics raises $20 million for Phase III heart disease drug trial

17 April 2014

Irish biotech company Heart Metabolics has completed a $20 million round of financing to support its development of drugs for cardio-metabolic diseases.

The Series A financing from venBio, Seroba Kernel Life Sciences, Brandon Capital Partners (on behalf of AustralianSuper) and AshHill has supported Heart Metabolics in acquiring a Phase III-ready drug candidate and related preclinical drug candidates from a UK company, HMBL Limited (formerly known as Heart Metabolics Limited), and will support the company moving these drug candidates forward.

Peter Milner, chief executive of Heart Metabolics, said: “We are excited to raise the funds necessary from high caliber investors to accelerate the development of perhexiline in a pivotal Phase III clinical trial. Based on previous clinical data, we believe this drug will be an effective therapy for the rare but deadly heart disease, hypertrophic cardiomyopathy.”

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