Cardiorentis enters into financing agreement with HealthCare Royalty Partners to fund Ularitide
Privately-held Swiss pharma company Cardiorentis AG has entered into a 45 million-euro ($58.3 million) financing agreement with US-based health care investment firm HealthCare Royalty Partners.
The agreement will help fund Cardiorentis’ registration program for natriuretic peptide Ularitide to treat acute heart failure.
Johannes Holzmeister, chief executive and chief medical officer of Cardiorentis, said: "This is a pivotal time for our company. The team at HC Royalty understood the attractiveness of our program and our financing needs and then developed a structure that would give us a high degree of flexibility but also a sizeable amount of capital to complete our pivotal Phase III trial for Ularitide. We believe we have the financial resources in place to execute on our business strategy to introduce the first therapy with proven outcome benefits for patients with acute heart failure.”
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