Cardiorentis raises $60 million to fund development of heart failure treatment; names new CFO

11 January 2016

Switzerland-based Cardiorentis AG said it has raised 60 million Swiss Franc ($60 million) via private investors to advance its Phase III trials for Ularitide, a therapy for acute decompensated heart failure (ADHF), including upcoming regulatory submissions expected in the second half of 2016.

In December 2015, the US Food and Drug Administration granted Fast Track status to Ularitide.

The privately-held company, in a statement, also named Reto Wittwer its chief financial officer. Cardiorentis also appointed Brent Furse president US and global chief commercial officer, a newly established role.

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