Catabasis Pharmaceuticals, a US-based biotechnology company dedicated to the development of medicines to treat inflammatory and metabolic diseases, has completed a $32.4m series B financing round led by new investor, venture capital firm Lightstone Ventures; an unspecified, public crossover fund and all current investors, including MedImmune Ventures, AstraZeneca’s corporate venturing unit, and venture capital firms SV Life Sciences, Clarus Ventures, and Advanced Technology Ventures, also participated in the financing.
Catabasis plans to use proceeds from this financing to support the development of its lead compound, CAT-2003, a modulator of the lipid synthesis pathway. Catabasis also plans to use the proceeds to develop its pipeline.
Jean George, partner of Lightstone Ventures. “Catabasis has achieved a number of important milestones in the past year including positive data from Phase 1 studies of both CAT-2003 and CAT-1004.”
Jill Milne, Ph.D., co-founder and chief executive officer of Catabasis, said: “We are tremendously excited about the progress we’ve made with our pipeline thus far. This financing enables Catabasis to continue to execute on the promise of its pipeline for dyslipidemias and diseases involving chronic inflammation.”