US-based cardiovascular disease drug developer Verve Therapeutics closed a $94m series B round yesterday featuring pharmaceutical firm Novo and GV, a corporate venturing subsidiary of internet and technology group Alphabet.
Wellington Management and Casdin Capital co-led the round, which included Redmile Group, Janus Henderson Investors, Cormorant Asset Management, Rock Springs Capital, Logos Capital, Surveyor Capital, RA Capital Management, Biomatics Capital and an unnamed healthcare-focused fund.
Verve is working on gene-editing therapies to treat cardiovascular disease. Its lead product candidate, VERVE-101, is targeting a genetic heart disease known as heterozygous familial hypercholesterolemia that is potentially fatal.
Sekar Kathiresan, Verve’s chief executive, said: “We are grateful for the level of support by this well-regarded group of investors, which is a testament to the potential of our gene editing approach and pipeline.
“This funding will help advance VERVE-101 into clinical development, drive our earlier programmes forward and provide necessary resources to achieve our mission so that we may impact the lives of as many people as possible.”
Verve launched in mid-2019 with $58.5m from a series A round led by GV and backed by F-Prime Capital, a venture capital subsidiary of investment and financial services group Fidelity, as well as Biomatics and Arch Venture Partners.
GV subsequently led the company’s $63m series A2 round in June 2020, investing alongside F-Prime Capital, Arch Venture Partners, Biomatics, Wellington Management and Casdin Capital.
