SAN DIEGO, CA, Biopharmaceutical company focused on the discovery and development of innovative treatments for cardiovascular diseases, announced the receipt of additional capital.
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Celladon Corp., a biopharmaceutical company focused on the discovery and development of innovative treatments for cardiovascular diseases, announced the receipt of additional capital proceeds from a second close of its recent venture financing to advance the Company's lead investigational product candidate MYDICAR for the treatment of advanced heart failure.
This financing was executed as an extension of its recent venture financing, which closed on February, 2012 and included new investors MPM Capital and LSP Life Sciences Partners. With this second close, total capital proceeds from the recent investment round is now $53 million. MPM Capital and LSP Life Sciences Partners join existing Celladon investors Pfizer Venture Investors, Lundbeckfond Ventures, Novartis Venture Funds, Hambrecht and Quist Capital Management, GBS Venture Partners, Enterprise Partners Venture Capital, Johnson & Johnson Development Corp., and Venrock.
In conjunction with this financing, Celladon has added Todd Foley, Managing Director at MPM Capital, and Fouad Azzam Ph.D., General Partner at LSP Life Sciences Partners, to its Board of Directors. Celladon will also establish a subsidiary in The Netherlands to manage its European based activities.
"This capital infusion further strengthens Celladon's cash position and activities in Europe, and we welcome MPM Capital and LSP Life Sciences Partners to our top-tier investment syndicate. Together, we will progress the continued development of MYDICAR for patients with advanced Heart Failure," said Krisztina Zsebo Ph.D., President and CEO of Celladon Corp.