News & Views
Funding steers Cardiovascular Pipeline towards Clinical Entry
Oct 07 2023
Biopharma Corteria, which announced an oversubscribed €65M ($71M) Series A co-led by investment firms OrbiMed (US) and Jeito Capital (EU), will be using the funding to advance its cardiovascular pipeline into the clinic. Erez Chimovits from OrbiMed and Andreas Wallnoefer from Jeito Capital have joined Corteria’s board of Directors.
The company’s approach is centred on selecting therapeutic targets involved in the worsening and acute forms of human heart failure, as well as a stratification strategy to identify specific subgroups that are most likely to benefit from the treatments.
Founded in 2021 by Sanofi’s former head of cardiovascular research, Philip Janiak and Marie-Laure Ozoux, former cardiovascular project lead, around two cardiovascular programs in-licensed from Sanofi, Corteria’s pipeline has expanded rapidly comprising three first-in-class therapies that are highly differentiated as they produce multi-organ benefits, acting on the kidneys, the heart and the vessels.
“This financing marks a major milestone in our mission to bring therapies to heart failure subpopulations with high unmet needs,” said Philip Janiak, Founder and President of Corteria Pharmaceuticals. “We are extremely grateful to Jeito and OrbiMed as our new investors for their trust in our science and team and to our existing investors for their support and commitment since inception. We are looking forward to working all together to develop next generation transformative therapeutics.”
Andreas Wallnoefer, Partner at Jeito Capital, said: “Despite current treatments, heart failure is a progressing disease that impacts severely the lives of many patients and remains one of the leading causes of mortality worldwide. Corteria focuses on translating important therapeutic innovation in cardiology into clinical practice. Our investment in Corteria reflects Jeito’s commitment to address significant unmet needs in the realm of cardiology. We are excited to join forces with Corteria’s dedicated team to develop a portfolio of medicines with important clinical benefit for patients.”
“We are proud to have been involved with Corteria since its early days and impressed with the progress made to date. The company is now at a turning point of entering the clinic with its lead asset early next year and validating its unique positioning in well-defined heart failure subpopulations with high unmet medical needs. Kurma Partners is pleased to continue supporting the company during this key step that we hope will bring transformative clinical outcome for patients,” said Thierry Laugel, Managing Partner at Kurma Partners, and Chairman of the board of Corteria.
All existing seed investors (Kurma Partners, Fountain Healthcare Partners, V-Bio Ventures, Invivo Capital, Omnes Capital), took part in the funding round.
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